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[75] From 15 September 2016, Cathay Pacific decided to reintroduce fuel surcharge on many flights after its half-year net profits dropped more than 80% and it suffered HK$4.5 billion loss from wrong bets on fuel prices. [76] As of September 2016, oil prices were halved from 2014 and stayed below US$50 a barrel. [76]
This however went into administration in 2011, with Barretts Trading, another Michael Ziff vehicle purchasing 89 of Priceless and Barratts shops. This however went into administration in 2013, with 14 shops being sold to Pavers Shoes and the brand and website being sold to footwear entrepreneur Harvey Jacobsen.
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