The Decibel Why a B.C. billionaire’s bid for Hudson’s Bay stores failed
12 snips
Nov 17, 2025 In this discussion, retailing reporter Susan Krashinsky Robertson unpacks the failed bid of B.C. billionaire Ruby Liu to acquire former Hudson’s Bay leases. Liu, known for her real estate prowess but lacking major retail experience, envisioned revitalizing the Bay. The conversation reveals intense landlord skepticism, courtroom drama, and Liu's controversial practices, including discrepancies in hiring commitments. The implications of this case on future lease assignments also emerge, leaving listeners curious about Liu’s next moves.
AI Snips
Chapters
Transcript
Episode notes
Controversy Around Shenzhen Mall Project
- Liu's Shenzhen mall project faced allegations that buyers paid for properties they never received, sparking investor protests.
- Media reports said she punched a reporter during a confrontation and later apologized while denying wrongdoing.
Mixed Picture Of Canadian Mall Operations
- After moving to Canada in 2014, Liu continued to acquire malls under Central Walk, including properties in Victoria and Nanaimo.
- Court filings disagreed on profitability: she claimed turnarounds while others said the malls were loss-making and heavily mortgaged.
Landlords Rejected The Unknown Retail Operator
- Major landlords opposed Liu because her team couldn't answer basic operational questions about suppliers, logistics, and retail experience.
- Landlords feared being forced into long-term lease relationships with a tenant lacking proven retail capability.