The husband of Veronica Yip Yuk-hing, a former Hong Kong actress best known for her roles in adult films, has filed for bankruptcy in the US where he runs a vast wholesale food and supermarket business.
Grocery tycoon Jeffrey Wu made the application at the US Bankruptcy Court for the Eastern District of New York on Wednesday, owing nearly US$50 million (S$70 million) out of his own pocket, according to the filing.
The 56-year-old, also known as Myint J. Kyaw, owns Mon Chong Loong Trading Corp, one of the largest oriental dry food wholesaler and distributors in the US, as well as a major Chinese grocery store, the Hong Kong Supermarket, with branches in the northeast and California.
As well as filing for personal bankruptcy with debts of US$48.5 million, Wu also applied to put three of his companies – property developers owing US$15.3 million between them – into administration, according to documents filed to the court.
Wu’s supermarkets were reportedly hit hard by the coronavirus outbreak, with shoppers confined to their homes for several months.