Hudson’s Bay to Sell 28 Store Leases to B.C. Billionaire Ruby Liu’s Central Walk

Hudson’s Bay Company has agreed to unload up to 28 store leases in B.C., Alberta, and Ontario to Ruby Weihong Liu, the high-energy founder of Central Walk whose social-media mantra is “A New Bay.”  The proposed deal—still awaiting court and landlord approval—would hand Liu three leases inside malls she already owns and give Canada’s oldest retailer a cash infusion without disclosing a price tag.  Liu says the reimagined chain will blend immersive experiences with cross-generational appeal, turning underused anchors into bustling “modern department stores” that feel more theme park than sales floor.

It’s the boldest play yet from the Shenzhen-bred billionaire who bought Tsawwassen Mills, Mayfair Centre, and Woodgrove Centre in rapid succession, packing them with live events and influencer-friendly décor.  Her bid beat out 11 other suitors chasing 39 available leases, even as Canadian Tire scooped up Hudson’s Bay’s iconic stripes and branding rights for $30 million—assets Liu also coveted.  Undeterred, she’s already toying with a jewel-logo “Ruby Liu: A New Bay” concept and insists the phrase won’t tangle with any IP rules.

Retail analysts say landlords could still reclaim prime real estate for their own uses and that final approvals may reshape the roster, but Liu’s track record of revitalizing sleepy malls gives her proposal real weight.  If the court signs off, Central Walk plans a coast-to-coast rollout of 20-plus stores, promising events, tech-driven merchandising, and plenty of selfie-worthy spectacle to lure shoppers back from their screens.  For Hudson’s Bay, the divestiture sheds costly square footage while preserving the core business—proof that, in Canadian retail, reinvention is just another century-old tradition.