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Closures in Hong Kong & Australia
In the past two months, high profile companies in Hong Kong and Australia have either scaled down or closed their doors.
In a report eariler this year, LAI (once the largest distributor in Australia) closed many of their offices. In the last two months, Sega World (located in Sydney) and Parramatta Intencity have been closed down.
Hong Kong icon Fred Milner recently closed down his Hong Kong office and moved his entire operations to the Philippines. Fred had one of the largest and most successful sales office in Hong Kong. Another recent closure in Hong Kong was Target Win, a sales based company specialising in Sega goods.
Whilst there is a downturn in our industry, it should be noted that there are many companies expanding and increasing their profits through better management and product diversification.
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