Hong Kong newspaper Apple Daily will be forced to shut its doors in mere days, after the company’s assets were frozen under the city's national security law.
That's according to an advisor to former Apple Daily head Jimmy Lai.
Mark Simon, a spokesman for publisher Next Digital, exclusively told Reuters that while they thought the paper could run through June, money will now run dry in days.
Simon spoke by phone from the U.S., saying, “Vendors tried to put money into our accounts and were rejected. We can't bank.”
Lai is a staunch critic of Beijing and was jailed under the national security law earlier this year and has since had assets frozen.
The news comes days after five Apple Daily executives were arrested as part of a police raid, which was later condemned by the UN and global rights groups.
Three have been released on bail, while the paper’s chief editor and executive were denied the chance.
Simon, the spokesman, told Reuters that Next Digital was set to hold a board meeting on Monday to discuss steps moving forward.