Hudson’s Bay returned $9.4M to Ruby Liu after her $69.1M bid to buy 25 Canadian leases failed due to court ruling she was unqualified.

Hudson’s Bay Company has returned a $9.4 million deposit to B.C. billionaire Ruby Liu, according to court filings dated December 8, 2025, concluding her failed $69.1 million bid to acquire 25 retail leases across Canada. A judge had previously ruled Liu unqualified to operate a new department store chain, leading to the deal’s termination. Despite the setback, Liu secured approval to purchase three other leases for $6 million, citing her ownership of the B.C. malls housing them. Landlords have notified Hudson’s Bay they may seek legal costs related to the failed transaction.