Why a B.C. billionaire’s bid for Hudson’s Bay stores failed
Description
In May, a B.C. billionaire named Weihong (Ruby) Liu made a $69.1-million deal to acquire 28 leases of former Hudson’s Bay stores. Her company, Central Walk, owned malls where three of those stores were located, so those leases went unopposed; however, landlords of the other 25 stores were skeptical of her ability to operate her proposed stores. She had cash, real estate experience, and a vision — but no experience running a major retailer.
Susan Krashinsky Robertson is the Globe’s retailing reporter. She’s been covering the fallout from the demise of Canada’s oldest retailer. Today, she’s on the show to talk about what she learned about Ruby Liu over the course of the hearings, and why her bid to take over 25 more stores ultimately failed.
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