The Chinese billionaire behind the Bay’s acquisition says she may move to Toronto

Chinese billionaire Ruby Weihong Liu has won approval to take over the leases of three Hudson’s Bay department stores, all located in malls she owns in BC. Liu will buy the leases for the locations at Tsawwassen Mills, Mayfair Shopping Centre and Woodgrove Centre for $6 million after an Ontario Superior Court judge granted her permission.

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The bombastic billionaire with a taste for high fashion and sparkles plans to open a new department-store chain named after herself that will reportedly mimic Asian department stores: shopping but also dining, play spaces for kids and venues for entertainment. All told, Liu hopes to take over the leases of 28 Bay locations across the country. But she has received substantial opposition from the current landlords of those sites. Twenty-three landlords—including Cadillac Fairview, Oxford Properties and others—have voiced opposition, according to court documents. But David Bish, a lawyer for Cadillac Fairview, says he believes all 25 landlords have objected.

“The process has been very troubled,” Bish said to the judge. “At some point, we may discuss, if there is a forced assignment, how troubled it has been.”

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Liu, meanwhile, is holding strong. She raised her fist outside of court after winning the first three leases and plans to continue her battle.

A staple in the Vancouver business scene, Liu made her fortune in 2019 after selling a 1.5-million-square-foot mall in Shenzhen for $1.25 billion. She has since become known for her over-the-top personality in public and on social media. And Torontonians can be certain that they’ll be seeing more of her in the coming years: Liu told reporters outside the courthouse that she’s planning to move to the city.