- 07-29-2003, 10:33 PM #17Registered User
- Join Date
- Jul 2003
ebabyasia are bad business people
and yes, the store in the Centrium Building is operated by the same person as ebabyasia. so HK show your disgust in the way this person just shut the gates of his old stores and opened up new ones. I have heard feedback from people who were burnt as well as well as poor people who put their stock in the stores on consingment and were never paid.
naughty, naughty, naughty. HK is TOO small to be doing this terrible turn of trading
- 07-30-2003, 12:00 AM #18
Lets not start witch hunts here.
They went into liquidation and are well within the law to open a new business.
People who run businesses make money and they loose money. I'm sure the folks who gave them product on consignment were not complaining when they were making money. They should contact the liquidators and get in line with the other creditors. There are well established procedures for getting paid in such cases (even though they'll probably make pennies on the dollar).
- 07-30-2003, 02:03 PM #19Registered User
- Join Date
- Jul 2003
I agree with Stella
Yes I agree with Stella. If Ebabyasia simply fail in business, they shouldn't open up a new store at the Centrium Building (if they don't have the money anymore, how are they going to have money to open up a new store?). I think the reason why they close Ebabyasia is they don't want to pay back any debts (e.g. the money they owe the consignment people).
You see, if Ebabyasia is a company limited, after they have gone into liquidation, the owner or the director doesn't have any responsiblity to pay debts. No matter how much money the company limited owes others, if they are closed, the owner or the director will not be effected.
I doubt the consignment people will get their money back, since Ebabyasia does not exist anymore. If Ebabyasia has the money to open up a new store, why don't they use the money to pay all the debts and the consignment people?
It makes sense that the the consignment people would not say anything when they were making money, because Ebabyasia was making money at the same time, that was a win-win situation, no one was to blamed. Now that Ebabyasia have gone into liquidations, the money that they earned by selling consignments had gone into their pockets, and they should pay back the consignment people the remaining % but they didn't, now that is very bad. The problem is that Ebabyasia sells everything in a very low price without paying the consignment people a penny or without giving them back the inventories now that's the problem.
J x 2
- 07-30-2003, 02:54 PM #20
I am closing this thread as the content is borderling libel and everyone is repeating themselves with hearsay.
Feel free to drop me a line if you're going to start a picket line and demonstrate in the Centrium. My office is nearby and I'll be glad to show up with a couple of reporters in tow. :)
- 08-01-2003, 01:34 PM #21Registered User
- Join Date
- Aug 2003
- Hong Kong
I was one of the directors of ebabyasia¡¦s business, and a minority shareholder in the company. I am also a consultant to All Things Healthy in the Centrium, and have a minority share in the company. I¡¦m posting this note below to provide a candid summary regarding both companies, because I can see there is a lot of resentment regarding ebabyasia¡¦s closure, and some misunderstanding about All Things Healthy.
ebabyasia had eight individual shareholders, including one major Hong Kong financial institution. The company had business in Hong Kong, Singapore and Taiwan. When the SARS epidemic began on March 28th, the company¡¦s revenues dropped 80% in all three markets overnight. Our customer base left these markets in droves, and we lost over USD$200,000 in two months. We sought but were not able to receive any reductions in our warehouse, store rentals, or website maintenance fees. This financial impact on a small company was devastating, and the board saw no option but to close down the company and go into voluntary liquidation. This was not an easy decision to make, but there simply was no choice. We had no revenue, no customers, and large, fixed payroll and rental expenses which we could not meet. Appointing a liquidator was the only proper thing to do in an instance like this. The liquidator took control of the assets, is organizing all the creditors, and making sure that everyone is treated fairly and without preference. The company sold all of its stock at 50% off over a one month closing sale, and the remaining stock was auctioned. To my knowledge all merchandise paid for was delivered, and if anyone paid for something that they did not receive, there isn¡¦t a credit card company anywhere in the world that will make you pay that charge ¡V just advise them you never received the goods.
I did not control either the voting shares, or the board of directors, of ebabyasia. Even if I had had any idea regarding an alternative to closing in the face of the SARS impact, I could not have forced the board or other shareholders to follow my lead. In fact, I am one of the largest creditors of the company, and like the other creditors, must accept that this money owing to me is unlikely to be recovered. I also spent eight years with the company, and it was not easy to see it close down, especially as a result of such a freak occurrence as the SARS epidemic.
All Things Healthy is not related in any way to ebabyasia. The company was the brainchild of two expatriate women who are long-term residents of Hong Kong, and who have a passionate interest in personal health. They completely funded the development of the store, and own the majority of the company¡¦s shares. I began consulting with them over a year ago on how to establish a retail business, and continue to assist them now. Neither they, their families nor friends, have ever been affiliated in any way with ebabyasia¡¦s business ¡V directly or indirectly ¡V nothing. Over 95% of the company¡¦s products are food or vitamin related. Some health-oriented baby product brands are sold that were also sold at ebabyasia, but All Things Healthy is not the importer or agent of these products ¡V just a consignment retail channel. A former sales person from ebabyasia is also employed at All Things Healthy because she was an experienced and quality staff who became available when the company closed.
I realize that ebabyasia¡¦s closing down had a very inconvenient impact on a lot of people, but please try to think what you would have done if your entire business disappeared overnight, for reasons that had nothing to do with your company. For those who worked at ebabyasia, we also have families to feed and rent to pay, and have to get on with our lives.
If anyone wishes to contact ebabyasia¡¦s liquidator, please call Baker Tilly at 2826-5000. If you wish to contact me, you can email: [email protected].
- 08-01-2003, 01:57 PM #22
Thanks for the response. Hopefully this goes a long way to eliminate heresay and gives people legitimate contacts to touch base with.
I appreciate you stepping up and responding to the various issues that the members have brought up.
Hopefully this remains a thread of record for people who want to know more about the aftermath..
P.S. Now that the folks from All things Healthy have responded .. I'm reopening the thread for discussion.