{"id":23202,"date":"2021-10-01T10:35:24","date_gmt":"2021-10-01T13:35:24","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=23202"},"modified":"2026-04-23T15:07:54","modified_gmt":"2026-04-23T18:07:54","slug":"south-shore-holdings-subsidiaries-were-declared-insolvent","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/south-shore-holdings-subsidiaries-were-declared-insolvent","title":{"rendered":"South Shore Holdings\u2019 subsidiaries were declared insolvent"},"content":{"rendered":"\n<p>South Shore Holdings has revealed that all of its subsidiaries are insolvent and have ceased operations.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- South Shore Holdings, the group that owns\u00a0<strong>The 13 Hotel<\/strong>, has reported that all of its subsidiaries have ceased operations. In June,<strong>\u00a0the company applied to the Macau court for voluntary liquidation of its wholly-owned subsidiary New Concordia Hotel Limited<\/strong>, the sole proprietor of The 13 Hotel.\u00a0<\/p>\n\n\n\n<p>An announcement issued to the Hong Kong Stock exchange said: &#8220;Since their appointment, the Provisional Liquidators have been making efforts, among others, to have discussions with various parties to explore the possibility of a restructuring of the Group.<\/p>\n\n\n\n<p>&#8220;As at the date of this announcement, no commitment and no formal agreement in respect of a potential restructuring of the Company has been reached or entered into by the Company.&#8221;<\/p>\n\n\n\n<p>The 13 Hotel halted operations in February 2020 amid the Covid-19 pandemic and has been closed since then.<\/p>\n\n\n\n<p><a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/south-shore-seeks-buyer-for-the-13-resort\">South Shore Holdings<\/a>\u00a0has been\u00a0<strong>seeking prospective buyers for The 13<\/strong>. The company wanted a sale as soon as possible to improve the group\u2019s liquidity and financial position.<\/p>\n\n\n\n<p>Last year,&nbsp;<a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/south-shore-reports-us56m-net-losses-for-h1\" rel=\"noreferrer noopener\">the company<\/a>&nbsp;reported<strong>&nbsp;HK$473.7m (US$56.4m) in net losses<\/strong>&nbsp;for the six months ending on September 30.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Shore Holdings has revealed that all of its subsidiaries are insolvent and have ceased operations.<\/p>\n","protected":false},"author":176,"featured_media":7701,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"South Shore Holdings, owner of Macau's The 13 Hotel, has declared all its subsidiaries insolvent and ceased operations, following a voluntary liquidation application for New Concordia Hotel Limited. Efforts to restructure the Group have failed, with the hotel remaining closed since February 2020 and the company reporting significant net losses.","focusai_entities":"South Shore Holdings, The 13 Hotel, New Concordia Hotel Limited, Hong Kong Stock exchange","focusai_location":"Macau, Hong Kong","focusai_target_profile":"ceo_executive (1.0), regulator (0.8), compliance_legal (0.9), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Market Impact","query":"What are the projected long-term implications of South Shore Holdings' insolvency on the competitive landscape and asset valuations within the Macau integrated resort market?"},{"label":"Restructuring Learnings","query":"What specific governance or financial restructuring frameworks were explored by South Shore Holdings, and what insights can be gleaned regarding the challenges of distressed asset recovery in the current market?"}],"footnotes":""},"categories":[157,16338],"tags":[],"class_list":["post-23202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=23202"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23202\/revisions"}],"predecessor-version":[{"id":23225,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23202\/revisions\/23225"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/7701"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}