Wednesday, July 30, 2014   

Tai Lin in liquidation
(10-17 19:50)

Sixty-two-year-old electronic retailer Tai Lin Radio Services closed down all 13 branches today. About 260 employees were affected.

The company sought a provisional liquidation order at High Court today. Provisional liquidators of Ernst & Young said the company owes HK$100 million as of August and wages due to employees comes to about HK$2 million. Tai Lin has been looking for buyers in the past month.

Hong Kong Department Stores & Commercial Staff General Union began getting enquiries from Tai Lin employees this afternoon.

The Labour Department has set up two hotlines for the affected employees: 2928 6011 for employees' statutory rights and benefits and 2150 6397 for employment services. Suppliers and consumers could call 28469646

STAFF REPORTER
   
Other Business breaking news:
Nikkei opens flat (40 mins ago)
Hong Kong stocks up at open (42 mins ago)
IMF approves new credit line for Morocco (07-29 18:48)
Luxembourg puts key BES bank shareholders in administration (07-29 18:47)
Exchange Fund income amounts to HK$50.5b in first half (07-29 17:35)
Russia sanctions hit on profits: BP (07-29 16:48)
Building materials sector sluggish in China (07-29 16:40)
Hang Seng, Shanghai finish higher (07-29 16:18)
Airbus cancels six-jet order from Japan's Skymark (07-29 15:30)
European stocks open flat (07-29 15:29)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.