Capital Union applies for bankruptcy for HMV Digital China chairman

According to the court writ on Hong Kong’s Judiciary website, a company named Capital Union Inc has applied bankruptcy for Stephen Shiu Junior, chairman of HMV Digital China, after being sued for more than HK$278 million in August. The hearing has been scheduled for the afternoon of 1 November 2022. 

MARKETING-INTERACTIVE has reached out to Shiu for a statement. The bankruptcy petition is not open to the public for inspection, the details of the debts related to the case are not disclosed.

Back in 2019, Stephen Shiu Jr had dominated headlines as he publicly apologised to creditors and staff in Hong Kong for having to shut down music retail store HMV, according to SCMP. The tycoon revealed that the local unit of the iconic brand had reported losses of HK$300 million in just two years as it was under the pressure of the digital downloads age. He also planned to have a liquidation sale of the company’s remaining stock of CDs and DVDs.

Since then, the film producer has taken on a YouTube personality, and has been an active film reviewer on social media. 

(Photo courtesy: Stephen Shiu Jr's Facebook)

Related articles:

Why bankruptcy is hardly the end for Revlon
Iconic cosmetic brand Revlon files for bankruptcy