Mat Yeung Shuts Down Four Soup Shops
The fifth wave of COVID-19 has impacted many restaurants in Hong Kong. Mat Yeung (楊明), who has invested in six soup restaurants with his girlfriend, Lisa Chong (莊思明), is also struggling to keep his business afloat.
Lisa, who is responsible for the business’ publicity and advertisement, shared that the cost of rent for all six branches totaled to seven figures every month. In order to save money, the couple decided to suspend business and lay off staff.
Mat said four of the soup restaurants were officially closed since February 28. To cut costs, one of the remaining shops in Yuen Long will continue to provide takeout services only, while the Prince location will have revised limited store hours. Not only are people less likely to eat in-person, but the cost for materials needed to maintain the restaurant has also increased exponentially.
Faced with financial difficulty, Lisa is hard at work trying to rent out one of their units. The low-rise unit with 216 usable square footage is allegedly going for 14,000 Chinese yuan per month.
Source: Hket
This article is written by Huynh for JayneStars.com.
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Sh*t happens in this pandemic period. Closing is my best advise for many…you can reopen/expand when conditions improve. It is never a waste to good business strategy. Do what you have to do.