Former type Listed company Defunct 2008 Founder Mr. Leung Ngok | Number of employees 400 (2008) Founded 1983 | |
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Key people Former chairman: Mr. Leung Ngok Stock price 0627 (HKG) HK$ 0.55 +0.01 (+1.85%)27 Mar, 4:00 PM GMT+8 - Disclaimer Parent organization Advance Lead International Limited Subsidiaries Lakeyre Holdings Ltd | ||
U-Right International Holdings Limited (Chinese: 佑威國際控股有限公司) (SEHK: 627), or U-Right (Chinese: 佑威), was a garment distributor and retailer headquartered in Hong Kong. It offered men's and ladies' casual wear under the brand name of U-Right through retail outlets and distribution points. It utilized and licensed the Swedish Texcote technology, which is a material processing technology based on the principles of nano-technology. It also had its own production base in Shunde and Shenzhen of Guangdong to develop its nano-technology products.
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History
U-Right was founded by Mr. Leung Ngok in Hong Kong in 1983 and Mr. Leung served as the company chairman until 2008.
In 2008, U-Right was liquidated by Deutsche Bank, its creditor, as HK$1.3 billion debts was disabled to pay back. And provisional liquidator took over U-Right. Retail stores were closed down and 160 employees were laid off. Mr. Leung, U-Right's former chairman, was also declared bankrupt by the Hong Kong High Court. Its shares still suspended trading until further notice.