15 Jul – Former actress Veronica Yip recently confirmed that businessman husband Jeffrey Wu has filed for bankruptcy.
As reported on Mingpao, the former Miss Asia runner-up gave her response to the media following reports that the grocery tycoon has made application at the US Bankruptcy Court for the Eastern District of New York on 8 July.
Speaking to the media about the bankruptcy application, Veronica assured that it is not as serious as one would imagine. She also used the example of US President Donald Trump, who has filed for bankruptcy in the past and reorganised his company several times.
She further explained that applying for bankruptcy and reorganisation protection does not leave you with nothing, as part of your salary income can be exempted.
"As long as it is not about life and death, it is not the biggest problem," she said.
Jeffrey, who started as a supermarket chain in the United States, owns the largest Chinese supermarket group in New York and has a number of supermarkets in Flushing, the second largest Chinatown in New York. His business also involves real estate, hotels, restaurants, tourism and banking.
However, this is not the first time that Jeffrey has filed for bankruptcy, as he has done several times before following the economic crisis of 2008. It is also stated that his business has been having troubles even before the outbreak of the COVID-19 pandemic.
(Photo Source: Mingpao)