Stephen Shiu Junior, chairman of HMV Digital China, was filed for bankruptcy by Capital Union Inc after being sued for more than HK$278 million in August. According to the court writ on the Hong Kong Judicial website, a company named Capital Union Inc filed for bankruptcy for Shiu. The hearing is scheduled for the afternoon of November 1, 2022.
INTERACTIVE-MARKETING contacted Shiu for a statement. The petitioner for bankruptcy is Capital Union Inc. and the respondent is Stephen Shiu Jr. However, since the bankruptcy petition is not open to the public for inspection, details of the debts related to the case are not disclosed. .
In 2019, Stephen Shiu Jr made headlines as he apologized to creditors and Hong Kong staff for having to shut down 25-year-old music retailer HMV, according to SCMP.
The mogul revealed that the local unit of the iconic brand had suffered losses of HK$300 million in just two years, under pressure from the era of digital downloads. It also provided for a possible liquidation sale of the company’s remaining stock of CDs and DVDs.
Until March this year, the film producer turned into a YouTuber, looking like Mirror member Keung To’s latest looks in some of the local commercials and being an active film critic on social media. He even shared a video of the mooncakes unboxing on Facebook yesterday.
Further back in October 2016, HMV clearly wanted to talk business when its chairman Stephen Shiu announced the donation of 500,000 free “hmv oleGok” karaoke players.
The microphone-type player is a wireless karaoke speaker that allows users to sing karaoke by connecting the player to any device via Bluetooth. The player gained popularity in early September when celebrities like Joey Yung uploaded videos of herself singing in one of the home models.
In a bid to ride the wave, Stephen Shiu, chairman of HMV Digital China Group Limited, uploaded a photo of a karaoke player with the “hmv” logo on his personal Facebook page.
(Photo courtesy: Stephen Shiu Jr Facebook)
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