U-Right
 | |
| Listed company | |
| Industry | Fashion retailing |
| Founded | 1983 |
| Founder | Mr. Leung Ngok |
| Defunct | 2008 |
| Headquarters | Hong Kong |
Area served | Mainland China and Hong Kong |
Key people | Former chairman: Mr. Leung Ngok |
Number of employees | 400 (2008) |
| Website | Provisional Liquidators of U-Right International Holdings Limited |
U-Right International Holdings Limited (Chinese: 佑威國際控股有限公司) (SEHK: 627), or U-Right (Chinese: 佑威), was a garment distributor and retailer headquartered in Hong Kong. It offered men's and ladies' casual wear under the brand name of U-Right through retail outlets and distribution points.[1] It utilized and licensed the Swedish Texcote technology, which is a material processing technology based on the principles of nano-technology. It also had its own production base in Shunde and Shenzhen of Guangdong to develop its nano-technology products.[2]
History
U-Right was founded by Mr. Leung Ngok in Hong Kong in 1983 and Mr. Leung served as the company chairman until 2008.[3]
In 2008, U-Right was liquidated by Deutsche Bank, its creditor, as HK$1.3 billion debts was disabled to pay back. And provisional liquidator took over U-Right. Retail stores were closed down and 160 employees were laid off.[4][5] Mr. Leung, U-Right's former chairman, was also declared bankrupt by the Hong Kong High Court.[6] Its shares still suspended trading until further notice.[7]