A retail empire that was really 33 companies
The collapse of the Yoyoso, Miniso and Acecco retail chains looks, at first glance, like another casualty of a brutal year for physical retail. It is much more than that. According to the NZ Herald’s investigation published on 8 August 2026, at least 33 companies linked to directors Lin Liu and Qin Ding have gone into liquidation or receivership, almost all in the final months of 2025, with total debts across the network exceeding $61.7 million and more than $33 million owed to external creditors.
The pair held more than 60 land titles personally or through companies, almost all in Auckland, and at least 10 have already been sold by mortgagee sale. Yoyoso operated a…