Failed Hong Kong retail chain DSC obtains winding-up order
Owner also gets approval to fold three other firms after shocking city with sudden closures
Furniture and electronic appliances retailer DSC has secured a court order to shut down for good, nearly three months after the abrupt closures of all its 14 stores took the city by surprise.
Three other companies owned by the same boss, Hui Ming-shun, 61, also received their winding-up petitions from the High Court yesterday.
Hui was co-director of DSC Holdings and Phos Trading along with his wife Lin Wai-yin, 57, and was sole director of DSC Administration and Karon Information and Logistics.
The four companies initiated their winding-up proceedings two weeks after the debt-ridden DSC chain ceased retail operations on August 3, leaving about 900 employees jobless.
The couple had left Hong Kong a day before the shops were shuttered. In a statement prior to their return on August 10, Hui said they had gone to Macau in need of space to calm down.
They were arrested on suspicion of conspiracy to defraud upon their return to the city and later freed on bail.
