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
Value Hidden In Old Department Store Leases
- Department-store leases carried unusually attractive long-term rights and below-market rents that made them highly valuable assets.
- Those lease terms included multi-decade renewal rights and approval powers over mall developments.
From Harbin Shack To Shenzhen Developer
- Ruby Liu grew up poor in Harbin, worked from a young age, and helped build a wholesale business before moving to Shenzhen.
- In Shenzhen she built wealth via restaurants and large real-estate developments, later selling a mall for over a billion dollars.
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.