Hong Kong closures signal Gome retreat

Gome Electrical Appliances' decision to close its Hong Kong operations signals a temporary halt to its overseas expansion plans, which have been losing momentum since its founder Wong Kwong-yu was jailed four years ago.

Analysts said Gome's Hong Kong business has been making losses for the past decade due to a "smaller business scale" and "lack of local resources" compared to domestic players like Fortress and Broadway.

via Business feed http://www.scmp.com/business/companies/article/1133372/hong-kong-closures-signal-gome-retreat