Hong Kong Court Winds Up Taipan Bakery After Closure, HK$1.3M Unpaid Wages Owed

A Hong Kong court has wound up the parent company of Taipan bakery after the chain shut down all its branches in Hong Kong with around HK$1.32 million allegedly owed in staff wages.

The High Court granted a petition on Monday to dissolve Vast Luck Company Limited, which owned the 41-year-old Taipan Bread & Cakes, local media reported.

Representatives of the company told acting judge Lam Chin-ching that the company would be able to repay creditors on Tuesday, requesting the court not to wind up the firm.

Lam rejected the plea, stating the company had previously promised payment but failed to deliver.

Separately, three companies linked to Taipan Bakery and one director have been charged with 103 counts of wage violations after the chain allegedly failed to pay its 40 staff, local media outlets reported.