Wednesday, August 5, 2015   

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:
Dow climbs at open (08-04 21:46)
Vietnam-EU free trade deal to open up market access (08-04 18:13)
British company’s Somalia oil deal investigated (08-04 18:09)
(Greece crisis) Bank shares take a hammering again in Athens (08-04 17:53)
China stocks rally at close (08-04 15:23)
European stocks lower (08-04 15:21)
BMW quarterly income falls, Roll-Royce sales weak (08-04 15:16)
Kerry says Pacific trade pact close at hand (08-04 15:13)
UK raises US$3.3b offloading 5.4pc stake in Royal Bank of Scotland (08-04 15:11)
Euro weakens (08-04 12:29)

More breaking news >>

© 2015 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 2015, 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.