The tide of winding up in the retailing industry in the financial tsunami, is aggravating more and more. 62-year old Tai Lin Electrical has become the latest victim. All of Tai Lin's 13 branches have closed down yesterday. The group owes huge debts of 100 million dollars and is lacking funding liquidity. Although Chairman Lin Chok Lai has invested 70 million dollars in the last three years to turn the tide, ultimately closing down cannot be avoided. Some players in the industry predict that retailing businesses will close down one after another. 260 employees were dismissed yesterday. The union estimated that there are arrears of wages up to 10 million dollars.
Following the closing down across the board of U-right, a casual clothing store chain due to huge debts 1.2 billion dollars, it was reported yesterday that Tai Lin Radio Co also announced its closing down due to heavy debts. Tai Lin, which started from a small-scale shop trading and repairing radios, has so far set up 13 branches throughout Hong Kong. Staff number has dropped from the peak of 400 to the current 260. It is Hong Kong's oldest electrical appliances chain store.
2008-10-18 17:27:31 補充:
The retail trade graduation tide turns in the financial Tsunami is fiercer, 62 year old shop
2008-10-18 17:27:48 補充:
Thalline electric appliance became the newest sacrificial victim, the Thalline 13 branch stores the entire graduation, the group owes the next 100,000,000 Yuan great debt and the floating capital yesterday is insufficient,
2008-10-18 17:28:01 補充:
President Lin Zuoli the past three years invested 70,000,000 Yuan to strive to turn the tide, must graduate finally end; Has the field public figure anticipated, the retail trade graduation tide has one after another.
2008-10-18 17:28:14 補充:
260 staffs are dismissed yesterday, some trade unions estimated that the staff back pay reaches as high as 10,000,000 Yuan.Owes the great debt 1,200,000,000 Yuan entire graduations after chain-like leisure clothing store U-right,
2008-10-18 17:28:26 補充:
the Thalline radio line of yesterday biography was also in debt hundred million Yuan with the announcement graduation.
2008-10-18 17:28:49 補充:
Thalline by a scale tiny, specializes in the principle business radio's electric appliance store to start, until now supposes 13 branch stores to proliferate Hong Kong,
2008-10-18 17:28:54 補充:
the staff by the peak 400 people to the present 260 people, is the Hong Kong history is most glorious the chain-like electric appliance store.
2008-10-18 17:29:42 補充:
Wind up in the retail tide over the financial tsunami in the more aggravated, 1973 tae old electrical appliances has become the latest victim of a, tae 13 branches across the board yesterday to close down due to the Group of 100,000,000 yuan liquidity and huge debts,
2008-10-18 17:30:09 補充:
Chairman of the Lin ceremony for the past three years invested 70,000,000 yuan turn the tide and ultimately close down; industry are expected to close down the retail wave one after another.
2008-10-18 17:30:28 補充:
260 employees were dismissed yesterday, the union estimated that there are arrears of wages up to 10,000,000 yuan.
2008-10-18 17:30:36 補充:
Following the casual clothing store chain U-right owed huge debts 1,200,000,000 yuan to close down across the board, Tai Lin Radio Service yesterday also announced the same Chuan billion in liabilities to close down.
2008-10-18 17:30:43 補充:
Tae from a small-scale, the sale of radio electrical repair shop to start, so far set up 13 branches throughout Hong Kong, staff from the peak of the current 260 to 400 people, is the oldest electrical appliances chain stores.
2008-10-18 17:30:53 補充:
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