B.C. mall mogul Ruby Liu offers $6M for 3 Hudson’s Bay leases, aiming to revive retail with new stores and a bold vision for shopping centres in Canada.
Billionaire Developer Targets Hudson’s Bay Stores in B.C.
Real estate mogul Weihong (Ruby) Liu has offered $6 million to acquire three Hudson’s Bay leases in B.C. malls she already owns, according to court filings. The offer, part of Liu’s larger plan to revamp the department store model in Canada, marks the first concrete step in her retail expansion strategy.
Three Mall Locations Anchoring Vision
The leases up for court approval cover Hudson’s Bay locations at Tsawwassen Mills, Mayfair Shopping Centre in Victoria, and Woodgrove Centre in Nanaimo. Each lease is valued at $2 million and falls under Liu’s commercial real estate firm, Central Walk, which owns the malls. The deal, revealed in court documents, is separate from a broader bid Liu has placed for up to 25 more Hudson’s Bay-related leases across Canada.
Court Approval and Broader Acquisition Strategy
The lease transfer is contingent on judicial approval, part of a larger restructuring process by Hudson’s Bay Company, which sought creditor protection in March. Liu has also submitted a $9.4 million deposit for up to 28 leases, indicating a near $100 million total investment. The exact locations beyond the three in B.C. remain undisclosed.
Major Overhaul Plans for New Retail Brand
In an exclusive interview, Liu described the $6 million deal as just the beginning of a transformation. She plans to invest an additional $30 million to renovate the stores and launch a new brand under her name. Her vision includes turning department stores into lifestyle hubs featuring fashion, tech, wellness services, and even playgrounds for kids and amenities for seniors.
Retaining Talent and Modernizing Spaces
Liu has already rehired former Hudson’s Bay staff to support the redesign and relaunch effort. She acknowledged the outdated infrastructure in the properties, some of which haven’t been updated since the 1990s, and pledged to modernize them to meet current consumer demands.
Competitive Bidding and Uncertain Future for Other Leases
Hudson’s Bay received 12 bids for 39 of its 96 available leases, according to court filings. While Liu emerged as the preferred buyer for nearly a third of them, landlords of the respective properties still hold the power to accept or reject the transitions. Meanwhile, the Bay has hinted at deals with two other firms, though their identities remain under wraps.
A New Chapter in Canadian Retail?
Liu’s bold entry into the Canadian retail scene signals a potential rebirth for many aging department store spaces. While challenges remain, including landlord approvals and retail market shifts, her vision could reshape how Canadians experience mall shopping—merging commerce, community, and innovation under one roof.
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