TORONTO – Cadillac Fairview says a plan from a B.C. billionaire hoping to take over 25 former Hudson’s Bay leases defies common sense and thus, she should not be allowed to move in.
In new filings made with the Ontario Superior Court, Cadillac Fairview says it is strongly opposed to Liu becoming a tenant at some of its malls because she has no detailed or credible business plan.
The mall owner also says Liu, who owns three B.C. shopping centres, has no brand, experienced staff or track record in retail.
Liu has said she wants to turn about two dozen Bay stores she is hoping to buy into her own department store ready to open within 180 days of obtaining the leases.
She says she will spend $120 million on “overdue” repairs to roofs, HVAC systems, washrooms, elevators and escalators and $135 million on initial inventory.
Cadillac Fairview says her proposed timeline is unrealistic for a new brand, let alone an established one, and her plan is underfunded based on the high number of repairs properties need and expensive terms suppliers will require her to agree to.
This report by The Canadian Press was first published Aug. 9, 2025.
