Folli Follie Hong Kong filed for voluntary liquidation when the company realized that it was insolvent, according to Mingpao.
It is reported that over 10 stores in Hong Kong will be shut down. As of 8th June, more than 60 people have been laid off. According to sources, the liquidator for Folli Follie Hong Kong is Deloitte.
Folli Follie is a Greek-based international company which designs, manufactures, and distributes jewellery, watches, and fashion accessories. The company operates retail stores in Greece, and Mainland China, Hong Kong, Taiwan, and Japan.
No further news is reported regarding other markets after the closure of Hong Kong business. Fosun International is currently the second largest shareholder of Folli Follie Greece, with a final stake of 16.37%.
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Folli Follie had a store in Man Yee Building in Central for a monthly lease of USD 83,400 since April 2018. The store closed end of last year.