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16h ago

Hudson’s Bay Agrees to Sell 28 Store Leases to Ruby Liu

The 355-year-old retailer seeks court approval for a deal transferring key leases to the investor, who plans to launch a modern department store.

The Hudson's Bay in Calgary, Alta., Wednesday, March 18, 2020, amid a worldwide COVID-19 flu pandemic. THE CANADIAN PRESS/Jeff McIntosh
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Weihong Liu (centre) walk through the Tsawwassen Mills Shopping Mall in Delta, B.C., May, 18, 2025. Liu has bid to acquire Hudson’s Bay stores in Canada.
Weihong Liu holds up a sign during her interview with Postmedia at the Tsawassen Mills Shopping Mall in Delta, BC, May, 18, 2025. Liu has bid to acquire Hudson's Bay stores in Canada.

Overview

  • Hudson’s Bay has reached a deal to sell up to 28 store leases in Alberta, British Columbia, and Ontario to investor Ruby Liu, pending court approval.
  • Ruby Liu, a B.C.-based mall owner and serial investor, intends to open a new modern department store in the acquired locations.
  • The leases represent a significant portion of the 96 high-traffic retail sites held by Hudson’s Bay and its sister brand, Saks.
  • Hudson’s Bay, Canada’s oldest retailer, filed for creditor protection in March and will complete liquidation of all its stores by the end of May.
  • Details about the transaction, including the specific locations and financial terms, have not yet been disclosed.