The owner of Mayfair Shopping Centre is moving ahead with plans to launch her own department store chain after striking a deal to take over dozens of former Hudson’s Bay leases across the country.
Ruby Liu—board chair of Central Walk and owner of three major shopping malls in BC, including Mayfair in Victoria and Woodgrove Centre in Nanaimo—has signed an agreement to assume up to 28 leases in BC, Alberta, and Ontario.
The agreement, announced Friday by Hudson’s Bay Company ULC, is part of the company’s restructuring under the Companies’ Creditors Arrangement Act (CCAA) and still requires court approval.
It does not include rights to the Hudson’s Bay name or branding.
That’s because Canadian Tire has already stepped in to purchase the brand’s intellectual property—including its name, coat of arms, and signature stripes—in a separate $30 million deal that’s expected to close this summer.
Liu had previously expressed interest in reviving The Bay name and restoring it to prominence, even sharing videos from her lease-scouting journey across the country.
But with the brand rights off the table, she’s now forging ahead with plans to build something new.
In a recent social media video, Liu unveiled a logo for her upcoming store concept featuring a ruby gem and the words “New Bay” underneath—a nod to her original goal, even if the name can’t officially be used without Canadian Tire’s approval.
Her new business, she said, will focus on immersive shopping experiences designed to attract all age groups, with a commitment to hiring former Hudson’s Bay employees and working with past suppliers and vendors.
The move gives Liu control over several key retail spaces at a time when Hudson’s Bay is winding down operations and closing 74 of its 80 locations, including both in Victoria.
If approved by the court, Liu’s acquisition could mark the beginning of a new department store chain rising from the shell of one of Canada’s oldest retailers—this time under new branding, new leadership, and a new vision.
