Recently, Baolide, once the largest privately-owned luxury car dealer in Eastern China and a prominent name ranked among the top 20 on the list of China's top 100 automobile dealer groups, has officially entered bankruptcy liquidation proceedings. On January 29, its headquarters in Hangzhou was largely vacated, with a dedicated office for the bankruptcy claims administrator established on the 15th floor. Its BMW dealership has ceased operations, and its two subsidiaries in Yiwu have also shuttered their doors. Notably, the seal date on the Yiwu Chouzhou Baolide dealership indicates December 20, 2025 (assuming this is a typographical error and should reflect a past date; if accurate, it may suggest a pre-planned closure or administrative action).
At its peak, Baolide boasted authorizations from multiple international luxury brands, including Rolls-Royce, Porsche, and Mercedes-Benz. However, since 2024, the company has been ensnared in operational and debt crises, grappling with issues such as widespread unpaid salaries and challenges in vehicle deliveries. Ultimately, these struggles culminated in Baolide filing for bankruptcy in 2025, with the court accepting the application.