The cash crunch at Hong Kong's Apple Daily: 5 things to know

Critical newspaper on verge of closing after authorities freeze company accounts

MICHELLE CHAN, Nikki staff writer

HONG KONG -- Two years before Britain was scheduled to hand Hong Kong back to China, businessman Jimmy Lai, who had made his fortune from clothing chain Giordano, boldly entered the city's crowded newspaper market in 1995 by founding Apple Daily with a commitment to "defy the fear."

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