B.C.-based billionaire Weihong Liu, chairwoman of Central Walk, is looking to take over 25 Hudson’s Bay stores, The Toronto Star reported.

Liu told the Star through a Mandarin-speaking interpreter that she has filed bids for the stores’ leases and indicated that she has paid the refundable 10% deposit required as part of the bidding process. Thursday was the deadline for bids on the leases, while Wednesday was the cut-off date for bids on asset purchases.

The debt-riddled Bay is in the process of liquidating all of its assets, including Saks-branded outlets, after filing for creditor protection in March. The Bay sold most of its store properties years ago, so most of the bidding activity is expected to surround the leases. Liu is one of two known parties seeking to acquire the iconic department-store chain’s assets, according to the Star. The other bidder, Urbana, is looking to purchase intellectual property.

Liu owns several major shopping centres in British Columbia, including the massive Tsawwassen Mills in the Vancouver-area community of Tsawwassen, Mayfair Shopping Centre in Victoria, and Woodgrove Centre in Nanaimo.

She has called the chance to buy the iconic chain’s assets as a “once-in-300-years opportunity” and vowed “make the Bay great again” while also revitalizing Canada’s retail sector.

Liu is partnering with Linda Qin, a Richmond, B.C.-based videographer and realtor, on the acquisition attempt.

“It’s a once-in-300-years opportunity,” Liu, speaking in Mandarin, said in one of the social media posts, according to The Toronto Star.

According to the Victoria Times-Colonist, she has been touring HBC stores with Linda Qin, a Richmond, B.C.-based videographer and realtor.

HBC was granted court approval in March to liquidate most of its operations, including 74 Hudson’s Bay locations, in a bid to resolve about $1 billion in debt. Six locations are set to remain open at least temporarily, including flagship stores in and Montreal.

Liu, a self-made entrepreneur with roots in China’s retail and hospitality sectors, relocated her business headquarters to Canada in 2020.

Pictured: Hudson’s Bay store in Winnipeg.

Photo: Lloyd Carr / Shutterstock.com

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