Hong Kong’s pro-democracy Apple Daily newspaper has enough cash on hand to continue operating as normal only for a couple of weeks, according to a person familiar with the situation, after authorities used a sweeping national security law to freeze company assets and arrest top editors and executives.
To continue print operations and pay staff, the quarter-century-old tabloid is planning on seeking relief through the courts and is also looking to use its Taiwan operation to manage digital donations through GoFundMe.com and PayPal, said the person, who asked not to be named due to the sensitivity of a police investigation into the company.
Executives are now examining the practicalities of keeping the newspaper running, including checking supplies of ink and paper in its warehouse, the person said. It’s unclear how the newspaper can pay staff and even whether regular suppliers and vendors will continue doing business with it, the person added, after local news outlet HK01 reported that authorities warned more than a half dozen banks not to deal with the company’s bank accounts.