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B.C. Billionaire Ruby Liu Gets Keys to First Retail Store Once Owned by The Bay
- Earlier this week, Ruby Liu received court approval for a $6 million deal to acquire three former Hudson’s Bay leases in malls she owns.
- Through the court-supervised sale process, Ms. Liu placed a $9.4-million deposit on bids for 25 leases to fund lender repayments, as court documents show.
- Sources report landlords' opposition, citing a lack of retail management experience and logistical capabilities for Liu’s lease plans.
- Drawing from decades of experience, Cadillac Fairview's CEO said securing established retailers would better serve retail jobs than Liu's current plans.
- Liu plans to bid on 25 additional leases, with a court-forecasted modest profit starting in 2026.
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Winnipeg Free Press+31 Reposted by 31 other sources
B.C. billionaire Ruby Liu gets keys to first retail store once owned by The Bay
Breaking News, Sports, Manitoba, Canada
·Winnipeg, Canada
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B.C. billionaire Ruby Liu gets keys to first retail store once owned by The Bay – Energeticcity.ca
DELTA — British Columbia billionaire Ruby Liu has received the keys to a store taken over from Hudson’s Bay, the first of more than two dozen that she has her eyes on. Liu plans to turn the former Saks OFF 5th store in the Tsawwassen Mills mall in Delta, B.C., into a cultural, tourist and retail destination. It’s the smallest of three Bay leases she’s been allowed to take over by an Ontario court overseeing creditor protection proceedings becaus…
Coverage Details
Total News Sources35
Leaning Left13Leaning Right0Center5Last UpdatedBias Distribution72% Left
Bias Distribution
- 72% of the sources lean Left
72% Left
L 72%
C 28%
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