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A Chinese billionaire in British Columbia bought dozens of Hudson Bay locations after announcing her plans on social media that saw “Canadians feel sad” amid the collapse of the retail giant.
Entrepreneur Weihong Liu is the chairman of the board of directors of Central Walk, a retail investment company with three shopping centers in British Columbia
Liu shared a series of videos on Chinese social media platform Rednote, saying she wanted to “restore the bay to glory.”
Liu said in Mandarin: “Know the Bay, this national brand with Canadian history will collapse, I can’t stand watching, you have to do something to save it and keep the Canadian spirit going.” “Let the younger generation in Canada love the Bay again.”
Liu prescribed her business plan, buying many stores on whiteboards in one of her videos, saying the Bay is hundreds of years old and she doesn’t want to see it collapse.
“So we Canadians need to unite, we need to revitalize retail, solve employment, and create miracles.”
The videos showcase her tour, from Toronto to Calgary, with BC real estate agent Linda Qin.
The Hudson Bay’s roots date back to 1670, as a fur trading company, its first department store opened in Winnipeg in 1881 and then expanded nationwide.
The Bay will liquidate six of its 80 stores, as well as three of its SAKS Fifth Avenue stores and 13 SAKS at its fifth-time location in Canada owned by a license agreement.
Liu said in a video released last month that she will submit her advice on Gulf assets within a few days.
Binding bids for the company’s assets or investments to the business will expire on April 30, and those who want to lease must make an offer by May 1.
An interview with Liu was not possible, and Qin told Canadian media in a text message Tuesday that they would issue more announcements.
HBC spokesman Tiffany Burrée Refuse to comment on the bid.
The process of installing the Hudson Bay and Saxophone lease is being overseen by court-appointed third party Alvarez & Marsal, which is directed by creditor protection and real estate agent Oberfeld Snowcap Inc., third parties to Hudson’s Bay.
None of them answered a request to comment, asking whether they had received Liu’s expression of interest.
The second process of Alvarez & Marsal’s operation is to find other assets of buyers or investors of other assets in the Bay, which may include its famous striped trademark or even its artwork rights, and is operated by Alvarez & Marsal and reflects the advisor of Hudson’s Bay’s financial advisor.
“We are not suitable for comments when we are going through the sales process,” Reflection Managing Director Adam Zalev said in an email.
Retail analysts say it will be a tough battle for Liu.
Craig Patterson, founder and publisher of retailer insider Craig Patterson, saw one of Liu’s videos online and said she “maybe just want someone who wants good social media attention.”
Patterson said it would be difficult to revive the store because investors first need to find suppliers willing to sell their products to them, in which case the merchant would rather have cash in money than get payments later.
He said Liu would need at least 15 locations to make the chain a retailer of suppliers.
“Then, it’s obvious that it takes money to renovate the store and own the product,” Patterson said.
He noted that one of Liu’s properties was the Woodgrove Mall in Nanaimo, which was listed.
Canadian Colliers is promoting the center on its website.
Lisa Hutcheson, retail strategist at JC Williams Group, said buying any potential investors from suppliers will be difficult.
“I think it’s a big risk, and these suppliers are really scrambling to get paid,” Hutcherson said, adding that resuming these relationships would require “very trust.”
She said it is also important to revisit business strategy, as buying a store and keeping all the stores will only make the store “another redundant brand at the moment.”
“I don’t think it’s just a simple thing, I’m going to buy it and stay open. Although we only have this person who is open to their plans, it certainly needs to do some work to understand how relevant it is in the market,” Hutcheson said.
This report by Canadian media was first published on April 8, 2025.
Nono Shen and Tara Deschamps, Canadian Media
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