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Ruby Liu Secures Court Approval for Three Former Hudson’s Bay Leases

Her investment marks the first step in a plan to build a 28-lease retail chain under her own brand despite landlord objections.

Overview

  • Ontario Superior Court judge Peter Osborne granted Ruby Liu’s $6 million bid to acquire the leases at Tsawwassen Mills, Mayfair Shopping Centre and Woodgrove Centre.
  • Liu intends to convert the former Hudson’s Bay spaces into Ruby Liu stores featuring retail, dining, entertainment and children’s play areas.
  • She has deposited $9.4 million toward 25 additional leases and agreed preliminary terms that value her expansion at roughly $100 million for 28 properties.
  • Landlords representing 23 of the 25 additional leases have formally objected and indicated they will resist any forced assignment order.
  • Hudson’s Bay filed for creditor protection in March, shut all of its stores by June 1 and is changing its name after selling its intellectual property to Canadian Tire for $30 million.