Hong Kong Distressed Sellers Flood Market With Assets at Fire Sale Prices
A funding squeeze is putting the city’s businesses under pressure amid China’s slowdown and weak consumer demand.
China’s economic slump is undercutting demand for everything from real estate to dining in a sharp reversal from the boom years.
Photographer: Lam Yik/Bloomberg
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Mansions in Hong Kong’s luxury Peak district selling at 50% discounts. A warehouse overflowing with equipment seized from shuttered businesses. A longstanding gym chain collapsing, triggering claims of more than HK$166 million ($21 million).
A funding squeeze is putting Hong Kong businesses and individuals under strain in a way not seen for decades, according to people who deal with troubled companies.