Bing Lee co-founder passes away

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Bing Lee co-founder passes away

Chairman and co-founder of NSW electrical retailer, Ken Lee, has died on the 21st December 2007 at St Vincent's Private Hospital.

The 75 year-old Chinese immigrant Ken Lee and his father Bing Lee opened the first Bing Lee store in Fairfield, located in South Western Sydney in 1957. Initially serving the electrical product needs of migrants drawn to hostel accommodation, Bing Lee has grown to become a major electrical retailer with 35 stores located from Canberra to Port Macquarie.

Bing Lee passed away in 1987 aged 79 and under the leadership of Ken Lee the business grew rapidly. The catch-phrase "Come Meet My Team" was made famous by the chairman who featured regularly in the company's advertising, establishing itself as one of the most iconic businesses in NSW.

Bing Lee celebrated its 50th anniversary in 2007 highlighting the company's longevity in a competitive marketplace with sales reaching almost $400 million (ext GST).

Lee is survived by his wife Yenda and two sons, Lionel and Greg. Ken Lee's role as chief executive officer of Bing Lee will be assumed by his eldest son, Lionel Lee.

"Lionel has been groomed for the role over many years and it is business as usual as Ken would not have wanted it any other way," said a company spokesperson.

"While Ken will be sadly missed, the company has a strong and stable management structure with positive growth forecasts for 2008 and beyond."

A private family funeral will be held mid next week and a memorial service will be held in late January 2008.

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