Hong Kong court orders winding-up of bakery Taipan, declares Ocean Empire founder bankrupt

South China Morning PostCenter-RightEN 1 min read 100% complete by Brian WongJanuary 19, 2026 at 08:47 AM

AI Summary

short article 1 min

A Hong Kong court ordered the winding-up of Vast Luck Company Limited, the parent company of bakery chain Taipan Bread & Cakes, after the firm failed to repay an unspecified debt. Taipan, known for its "snow skin" mooncakes, closed its branches in June 2023, owing over HK$32 million to more than 200 employees. Businessman Ricky Liu Chi-keung acquired the bakery in 2021 but was unable to prevent its decline. The Labour Department has filed 103 charges against Liu, Vast Luck, and its subsidiaries for over HK$1.31 million in unpaid wages. In a separate case, the High Court declared Siu Chor-kee, a co-owner of the Ocean Empire Food Shop, bankrupt, highlighting the struggles of Hong Kong's retail and catering sectors.

Key Entities & Roles

Key Player Opposition Context

Kowloon City Court 50% Labour Department 60% Ocean Empire Food Shop 70% Ricky Liu Chi-keung 70% Siu Chor-kee 70% Vast Luck Company Limited ×280% Hong Kong ×280% Taipan Bread & Cakes ×290%

Keywords

taipan bread & cakes 90% bakery winding-up 90% bankruptcy 80% catering sector 70% retail sector 70% ocean empire food shop 60% unpaid wages 60% debt repayment 50% consumption patterns 50%