Weihong (Ruby) Liu has received the keys to the former Hudson’s Bay Company store space at her Tsawwassen Mills mall in suburban Vancouver, The Canadian Press reported.

The former store was a Saks-branded outlet.

Liu celebrated the occasion during a brief ceremony at the mall located in Tsawwassen, B.C. Liu recently obtain received an Ontario court’s approval to purchase the store’s leased from the debt-laden department-store chain. The lease was one of three Bay leases covering former stores in three B.C. malls that Liu owns. The other two malls are the Mayfair Shopping Centre in Victoria, B.C., and the Woodgrove Centre in Nanaimo.

Liu has also agreed to purchase 25 other Bay leases of former stores elsewhere in B.C., Alberta and Ontario. But the malls’ landlords, including Cadillac Fairview, oppose Liu’s effort.

Sal Iacono, president and CEO of Cadillac Fairview, recently told The Globe and Mail Liu failed to supply “a meaningful business” plan for the former stores and lacks the needed experience to run them.

Liu plans to use the leases to launch a new department-store chain. She has charged that the landlords’ opposition stems from their desire to reclaim unsold leases. Commercial real estate leaders industry leaders have told Connect that the Bay’s leases are highly attractive long-term deals that charge rents well below today’s market value.

Meanwhile, Liu told CP that her proposed stores will bear the name Ruby Liu, ending the possibility that the label would incorporate “Bay” in some form. She had indicated previously that it would, but such a move was considered a possible trademark breach. Canadian Tire acquired Hudson’s Bay Company brands for $30 million after outbidding Liu and others for them.

All 96 Hudson’s Bay Company stores, including Saks-branded outlets closed June 1.

Pictured: Former Saks Off Fifth store at Tsawwassen Mills

Photo: Central Walk