Ruby Liu gets keys to former Hudson's Bay-owned store as she looks to acquire more leases
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 because she owns the B.C. malls where they are located in Delta, Victoria and Nanaimo.
Liu wants another 25 Hudson's Bay leases across the country, but the court has heard that landlords are wary because they don't know what she plans for the stores.
Ruby Liu lacks 'foundational' experience to run former HBC stores, Cadillac Fairview CEO says
She says she would divide those locations into either flagship or retail stores, which she would name after herself, Ruby Liu.
Liu says retail operations could open in three to six months, but flagship stores would need improvements and renovations, and those locations haven't yet been decided.
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