Founder of local cosmetic retailer declared bankruptcy

The founder of Bonjour, a local cosmetics wholesale retailer, was declared bankrupt on Monday, with a subsidiary company of the corporation wound up.

Wilson Ip Chun-heng, the 66-year-old founder of Bonjour Holding Limited, was announced bankrupt by the High Court today after he failed to present in court.

The court heard that Ip owed more than HK$20 million and was petitioned for bankruptcy by a creditor company, Fulling Limited, in the High Court last September.

It is learned that Ip told the court last week he would attend the hearing but did not appear today.

His wife Chung Pui Wan and son Ip Wai Tung were also petitioned for bankruptcy and will be at the hearing on February 7.

In addition, another subsidiary of Bonjour Holdings, Hop Fung Lung Limited, was wound up today because of a debt of HK$3.9 million,

Bonjour Holdings was established in 1991 and has 45 outlets in Hong Kong and Macau.