Tai Lin Declares Bankruptcy

[Star Gazer]

you just never know who's going to buckle next....

fyi Tai Lin has shops in IFC, Times Square...


A major electrical appliance chain store, Tai Lin Radio Service, has collapsed after more than 60 years in business. It follows the bankruptcy of the fashion chain U-Right last week. Tai Lin could not be reached for comment, but notices placed on the shutters of its retail outlets said they had been closed for stock checks. The provisional liquidator for Tai Lin said the firm had debts totalling $100 million.

[Pekkerhead]

that's a big shame, I've bought a bunch of stuff from their Sha Tin shop before now. Much better than some other high street shops I can mention.

[pinko]

The owners of the company can't be reached. There is no signal in their private island off the Barbados.

In the meantime, the 850 employees who haven't been paid since July have organised a demonstration in Victoria park. Some of the union leaders who organised that strike have been arrested. Others have been kidnapped and have been found at the landfill site with torture marks on their bodies.

In spite of the financial mess, everything else is proceeding as usual.

[MrMoo]

I saw this yesterday in Kowloon Bay, just waiting, and hoping Best will close too.

The Tai Lin shop in phase 1 is a complete waste of space and really badly designed shopping area. Bad lighting and the space seems designed to keep you at the front of the store with the high priced computers and camera equipment is. The location isn't great compared with Fortress & Broadway next to each other, and the store is almost always empty. It has always looked cheap though, even Gome does a significantly better effort at display and marketing.

Best in Megabox has like 2,000 TVs or something crazy and is almost always empty. Strangely I don't think they've ever updated many of their products and the Sony display is only half occupied with empty TV mounting points and cables dangling.

[pushan]

U-right bankrupt ????

[Star Gazer]

yup - someone shoulda told them "u-left" us.

Tai Lin
The provisional liquidator of the collapsed electrical appliance chain, Tai Lin Radio Services, says it has only about $500,000 left in cash.

Not much to go around which is bad news for its suppliers and employees

[jayinhongkong]

I'm kind of glad I bought a U-Right shirt a couple of months ago It's a piece of HK history. heh

[Eddy Mundo]

There's a U-Right in Chinatown in Toronto, Canada as well. I wonder if it's the same company.

[Max]

I'm kind of glad I bought a U-Right shirt a couple of months ago It's a piece of HK history. heh

so U-Right DID you right...

[MrMoo]

U-right bankrupt ????

Beginning of the month it would seem.

http://news.gov.hk/en/category/atsch...009en02001.htm

Surprisingly, or not for a HK company, their website copyright notice is stuck at 2005.

http://www.u-right.com.hk/index.html