Decision to cease operations comes as a surprise to CNT Security Company staff and clients, with no prior indication of financial issues
A leading security firm in Hong Kong chaired by a retired senior police officer will cease operations before next April, with more than 2,000 employees expected to be laid off.
CNT Security Company attributed the decision to a recent board resolution. The news emerged after the company informed the landlords of Allway Gardens, a residential estate in Tsuen Wan, that their request to extend its contract until December this year could not be fulfilled.
The letter, dated June 20, was signed by the company’s general manager, Mario Wu.
Chiu Yan-loy, a former Tsuen Wan district council member and now secretary of the Allway Gardens owners’ corporation, said residents were surprised.
