Hong Kong’s Taipan bakery ordered to wind up, Ocean Empire founder declared bankrupt

A Hong Kong court has ordered the winding-up of a bakery chain and declared a co-founder of a now-closed congee restaurant group bankrupt, highlighting the plight of the local retail and catering sectors amid shifting consumer patterns. The High Court on Monday granted a petition to liquidate Vast Luck Company Limited, the parent company of Taipan Bread & Cakes, after the firm failed to repay a debt of an unspecified sum despite repeated requests. Recognised as a top Hong Kong brand for its...