Ruby Liu Receives Court Approval for Three Hudson’s Bay Leases

A major step has been taken in the ongoing saga of Hudson’s Bay’s restructuring. On June 23, 2025, B.C. mall owner Ruby Liu received court approval to take over three Hudson’s Bay leases, marking a significant milestone in her plans to revamp the properties into department stores under her brand name.

The Leases and Future Plans

Liu, chairwoman of Central Walk, a real estate investment company in Nanaimo, B.C., has secured leases at Tsawwassen Mills, Mayfair Shopping Centre, and Woodgrove Centre for $6 million. She plans to open a chain of modernized department stores under the Ruby Liu brand.

The stores will feature more than retail spaces. They will include dining options, entertainment zones, and children’s play areas, creating a unique shopping experience. Liu also plans to expand into Ontario. She intends to move Central Walk’s headquarters to Toronto, reinforcing her commitment to the region’s retail market.

Struggling Hudson’s Bay and Lease Challenges

This move comes amid Hudson’s Bay’s financial difficulties, with the company grappling with $1.1 billion in debt. The iconic Canadian retailer was granted court protection from creditors in March 2025 under the Companies’ Creditors Arrangement Act (CCAA). As part of its restructuring efforts, Hudson’s Bay closed all of its stores across the country.

Liu had initially bid on a total of 28 leases, but only secured three. Despite receiving court approval for these properties, Liu faces opposition from landlords for the remaining 25 leases she hopes to acquire. These properties, spread across Alberta, B.C., and Ontario, have sparked contention, with some landlords skeptical of Liu’s plans.

Landlord Opposition and Legal Challenges

During a court hearing, Liu accused the landlords of trying to block her bids to regain control of the leases. She emphasized that the leases are valuable and that all parties should follow the bidding process. The ongoing disputes could lead to more legal action, as Liu and her legal team push for approval to acquire the remaining leases.

Some landlords have raised concerns about Liu’s business plan. They cite unclear details about product vendors and the repairs needed for the spaces. While Liu insists these issues can be resolved, resistance from major mall owners like Cadillac Fairview and Oxford Properties remains a challenge.

Hudson’s Bay Rebrands and Future Outlook

In addition to the lease sale, Hudson’s Bay has also received court approval to change its name, a stipulation tied to a $30 million deal to sell its intellectual property to Canadian Tire Corp. Ltd. This move marks the end of an era for the historic retailer, with the company’s new name set to be revealed soon.

As Liu’s plans unfold, her vision for modern department stores may bring much-needed innovation to the Canadian retail market. However, the full realization of her ambitions will depend on overcoming legal, financial, and operational hurdles.

The court’s approval of Ruby Liu’s acquisition of three Hudson’s Bay leases signals a new chapter for these properties. With plans for innovation and expansion, Liu’s new store chain may redefine the future of retail in Canada. However, the challenges of gaining full control over the other leases and garnering support from skeptical landlords could determine the pace and success of her ambitious project.

More…

• https://www.thestar.com/business/court-approves-sale-of-three-hudsons-bay-leases-to-billionaire-mall-owner-weihong-liu/article_11c745de-2d90-4716-ad71-fc94749063dc.html
• https://www.theglobeandmail.com/business/article-court-approves-hbc-name-change-leases
• https://vancouversun.com/news/hudsons-bay-receives-approval-for-sale-of-three-leases-to-bc-mall-owner-ruby-liu