Apple Daily could shut ‘in days’ after Hong Kong asset freeze

Company adviser says action under security law means it cannot access some $50 million in funds to pay staff and vendors.

Hong Kong pro-democracy newspaper Apple Daily will be forced to shut “in a matter of days” after authorities used the national security law imposed by China to freeze the company’s assets as it arrested the paper’s editor and four other directors, an adviser to jailed tycoon Jimmy Lai told Reuters on Monday. Mark Simon, speaking by phone from the United States, said the company could no longer access its funds and would be holding a board meeting on Monday to discuss how to move forward. “We thought we’d be able to make it to the end of the month,” Simon told the news agency. “It’s just getting harder and harder. It’s essentially a matter of days.”