Latest news with #financialdifficulties
South China Morning Post
2 days ago
- Business
- South China Morning Post
Hong Kong branch of Singaporean 1880 club in liquidation with HK$20 million in debts
The Hong Kong branch of a Singapore-based private club that closed after less than a year in business is undergoing liquidation with about HK$20 million (US$2.5 million) of debts, former employees have said. Financial difficulties forced 1880 Hong Kong, located at Two Taikoo Place in Quarry Bay, to shut its doors on Friday last week, leaving 100 employees without pay for two months and some members angered by sales made shortly before the closure. It also owed unpaid rent to its landlord, Swire Properties. Two former employees told the Post on Tuesday that the cash-strapped club had gone into liquidation, blaming the failure on the company's poor financial planning and governance. Both said that the landlord made a substantial capital investment in the fixed assets, while the club only had to take care of operations. One said that Swire's capital investment amounted to more than HK$170 million. The club, which opened on November 8 last year, occupied four floors offering event spaces, a gym with spa facilities, four restaurants, a cocktail bar and a sports bar. Each member had to pay a joining fee of around HK$24,000 and a monthly subscription fee of HK$1,300, or HK$14,000 for a full year, according to the founding member rates seen by the Post.
Forbes
6 days ago
- Business
- Forbes
What's Behind PLUG Stock's Deep Dive?
CHONGQING, CHINA - MAY 11: In this photo illustration, the logo of Plug Power Inc. is displayed on a ... More smartphone screen, with the company's green branding visible in the background, on May 11, 2025, in Chongqing, China. (Photo illustration by) Plug Power (NASDAQ: PLUG), a company specializing in hydrogen fuel cells, is facing severe financial difficulties, resulting in a 60% decline in its stock price year-to-date. Currently priced at just below $1, the stock has dropped over 70% from its 52-week peak of around $3.50. This decline largely stems from the company's significant cash outflow, which has rightly alarmed investors. If you're in search of better prospects with a more stable experience than holding individual stocks, consider examining diversified portfolios that have historically surpassed the S&P, such as the Trefis High Quality portfolio, which has generated returns exceeding 91% since it began. Separately, see – Nvidia Stock's 1 Big Risk Plug Power's financial condition is unstable, as indicated by its crucial metrics for the past four quarters: In addition to its substantial losses, Plug Power's balance sheet is further compromised by a large debt burden: As of the latest quarter, Plug Power's debt reached $1.1 billion, significantly surpassing its market capitalization of $999 million (as of May 29, 2025). This discrepancy leads to a severely poor Debt-to-Equity Ratio of 108%. Although the company's overall financial outlook remains grim, Plug Power did reveal some minor progress in its most recent quarterly results: Despite Plug Power's involvement in the promising hydrogen fuel cell sector, its present financial circumstances pose significant questions regarding its long-term viability as an investment. The combination of substantial operational losses, a heavy debt load, and disappointing future revenue forecasts presents considerable risks for potential investors. Considering the numerous stronger investment choices available in today's market, prospective investors should carefully assess whether PLUG signifies a genuine turnaround opportunity or a continued downward trajectory, even with the planned cost-cutting measures. Just keep in mind – PLUG stock still represents a volatile investment, and as a long-term investment option, you might want to explore the Trefis High Quality (HQ) Portfolio, which is grounded in quality and aims for reliability, predictability, and compounding growth. Comprising 30 stocks, it has consistently outperformed the S&P 500 over the past four years. Why is that? As a group, HQ Portfolio stocks have generated higher returns with lower risk than the benchmark index; it offers a smoother investment experience, as illustrated in HQ Portfolio performance metrics.
Daily Mail
12-05-2025
- Entertainment
- Daily Mail
Kate Gosselin looks unrecognizable from her reality star self as she drinks BOOZE with her kids
Kate Gosselin looked unrecognizable as she drank alcohol with four of her children in celebration of the sextuplets turning 21. The 50-year-old media personality - whose estranged son Colin recently revealed a new career venture - took to Instagram to share rare snaps of the kids. Kate — who found fame with her ex-husband Jon Gosselin, 48, and their 8 kids on TLC's Jon & Kate Plus 8, which aired from 2007 until 2017 — looked much different from their reality series days as she smiled while toasting with the kids. Her blonde hair was long as it cascaded down her back which is much different from the 'tellum' style haircut she made famous which resembles a bob hairstyle in the front and is cropped short in the back. Another notable thing from the snaps was that only four of her kids - Alexis, Aaden, Leah and Joel - could be seen in the gallery of images. Kate is estranged from two of the sextuplets: Hannah and Collin. Though the mother of eight looks world away from her reality star self, it has been said that she is seeking new TV opportunities amid financial difficulties according to reports from October 2024. The reality star is 'hurting for money' according to In Touch. 'She's hurting for money and facing the very real possibility of having to sell her house in North Carolina,' a source told the publication of Kate, who was recently accused of being an abusive mom by her son Collin Gosselin, 20. 'She doesn't date or socialize with friends. Even her nursing job that paid her a fraction of what she made on Kate Plus 8 didn't pan out.' 'She's still trying to get a new reality show, but doors aren't opening for her, especially now that she's been painted a lunatic mom who zip-tied and locked her son in the basement room,' the source added. 'No one would be surprised if she started begging for handouts.' The insider added, 'The feeling is if she were a nicer person, nice things would come her way, but she's not and karma's kicking her in the butt.' In November of 2023 an insider told The Sun Kate 'hasn't had a job other than reality TV for 17 years' and that she is 'doing what she can to get money'. Kate — who found fame with her ex-husband Jon Gosselin , 48, and their 8 kids on TLC's Jon & Kate Plus 8, which aired from 2007 until 2017 — looked much different from their reality series days Last month her son Collin leveled shock abuse claims at his estranged mother. Collin, who previously alleged his estranged mom sent him away at age 12 to stop him revealing her 'abuse', says his mother 'zip tied his arms and legs' and 'locked him in a basement' when he was a child during a campaign of alleged physical and emotional abuse. He said from the age of 'eight or nine' he was treated differently from his seven other siblings by Kate and added that he 'never had a childhood' in an interview with The Sun. Collin claims he was locked in a 'specially built basement room' which had a bed and cameras 'multiple times' - which watched him for an entire day or part of a day. He said: 'She had a room put up with cameras in it, a tiny window in the corner and it was bolt-locked from the outside.' 'My mother would put me in that room multiple times, she had zip-tied my hands and feet together and bolt locked the door, turned the lights off and had cameras there just watching me.' 'So most of the day I was in that room and I was away from my siblings and I never really went outside. I never played with them. I was kept there. It was literally containment.' He claimed Kate was 'physically aggressive, verbally, very abusive with the things she would say' and he had to 'constantly take the fall for her emotions.' Medical records submitted during Jon and Kate's custody battle revealed Collin had reported his mother's alleged abuse to his counsellor at the time. 'She's hurting for money and facing the very real possibility of having to sell her house in North Carolina,' a source told In Touch; seen in 2019 'She's still trying to get a new reality show, but doors aren't opening for her, especially now that she's been painted a lunatic mom who zip-tied and locked her son in the basement room,' the source added; the insider added He revealed a letter written in crayon to dad Jon, begging his dad to 'save him' and let him live with him. Collin also shared his private medical records with the publication to prove he does not have mental illnesses or behavioral conditions Jon - who later gained custody of daughter Hannah and Collin - said he had 'never found out' about Kate's alleged abuse until way afterwards - saying 'That kind of thing didn't happen until after I left.' He said Hannah had told him about the alleged abuse once he got custody of her. One sibling has supported Collin's claims. Collin claims when he started telling teachers about the alleged abuse - having shown up to class with a bruised and swollen ear - he was removed from school in the fourth grade. He also claimed he had told the camera crew filming their show but that Kate 'did a good job of hiding those things.' Jon shared letters he was sent from the Department of Human Services' Office of Children, Youth, and Families in Pennsylvania that notified him of abuse reports against Collin - but stated they were 'unfounded.' Jon claims there was 'nine separate instances' where abuse against Collin was reported. Kate's lawyer Richard Puleo said: 'If Kate did the things that Collin is accusing Kate of, she would have been investigated by the authorities and prosecuted.' Collin was home-schooled from fourth grade and diagnosed with mental health issues - medical records seen by the publication state he was diagnosed with unspecified bipolar disorder and related disorders, autism spectrum disorder, attention deficit hyperactivity disorder, obsessive compulsive disorder, oppositional defiant disorder, and PTSD before being taken to a mental health facility in 2016. Collin claims he was wrongly diagnosed and cites his medical records from a mental health evaluation taken last year which shows he has none of the conditions and no issues an adult. Collins claims multiple medications left him 'feeling like a zombie' and that Kate put him in the facility for 22 months 'in a desperate attempt to protect herself' adding: 'My mom always told me nobody would believe me.' He finally entered Jon's custody in January 2018 - and detailed struggling to 'reintegrate' into society with kids his own age. He graduated high school and intended to join the Marines - but was 'discharged' in August last year - allegedly due to Kate sending him to the behavioral institution. He now plans to attend college at Penn State. Puleo said he did not believe Kate has done anything to 'intentionally harm Collin and added 'she did what she did to protect herself and her family' from alleged 'troubled behavior' from Collin. In July 2023 Kate took aim at Collin, branding him 'violent and unpredictable' and claiming that he 'fabricated' allegations of abuse against her. Kate and Jon — who split in 2009 — share twins Madelyn and Cara, 23, and sextuplets Alexis, Hannah, Aaden, Collin, Leah and Joel, 20. Jon & Kate Plus 8 aired for five seasons on TLC spanning 2007-2017, once amassing 9.8M viewers with the fifth season premiere.
