bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

paywallTypes

createdDate

publishedDate

sponsorType

urlAlias

moreOnThisArticles

commentCount

authorLocations

authors

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

articleSpeeches

socialHeadline

headline

images

flag

firstTopic

glossary

flattenTypeIds

image

relatedLinks

relatedNewsletters

__typename

sponsor

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

Jane Moir

Ailing retailer Theme International Holdings was struck a further blow yesterday with its fashion outlet forced into liquidation.

 Legal action had been launched by five subsidiaries of conglomerate Wharf (Holdings) to wind up The Shop Clothing, a subsidiary of Theme International which trades as Theme, amid debts of $575,185 due since November last year.

 The five companies - Charris, Mullein, Wettersley, Bright Smart and Excellent Base - owned the Plaza Hollywood shopping complex in Tze Wan Shan, home of a Theme outlet up to August 3 last year.

 Mrs Justice Doreen Le Pichon yesterday ordered that The Shop Clothing be liquidated under the supervision of the courts.

 The court threw out a request for voluntary winding-up of the company.

 The company had argued that a voluntary winding-up would save costs and expenses.

 However, the judge stressed that the only opposition to the liquidation petition came from the company itself. No creditors appeared to oppose the bid.

 'There is no evidence as to the wishes of the creditors [as opposed to the wishes of the directors], much less that the creditors or a majority of them independent of the company oppose any winding-up by the court,' she said.

 Theme International Holdings recently posted a $106.05 million net loss for the six months to September 30, citing poor sales and high rental costs.

 The company suffered a wave of lawsuits over the past six months, claiming $11 million in unpaid rent.



Creditors push struggling Theme fashion outlet into liquidation