Bosco Wong Gets Rid of His Oyster Bar

As a fellow foodie, Bosco Wong (黃宗澤) made it his life’s mission to start a restaurant business. Back in 2011, the former TVB actor started his bar restaurant business, OverTime, in Malaysia, but despite its success, he still ended up selling it within a year of its establishment. In 2013, Bosco invested HK$4 million on the oyster bar OysterMine, located in Kowloon City. The restaurant became a popular trendy destination for couples, the younger generation. It was also a hot celebrity destination.

But even that was not enough. According to a recent report, OysterMine has followed the footsteps of Bosco’s bar in Malaysia and has been sold to a different owner. The report says Bosco sold OysterMine for only HK$1.15 million, over three times lower than its competitors in the same district. Bosco seemed eager to get rid of the business as quickly as he could.

Bosco kept quiet about his decision to sell the business and sought the help of his broker. The broker did not divulge the reasons behind the sale, and also did not reveal the buyer.

Another broker who is familiar with the area told the press, “Restaurants in Kowloon City almost always do well. Owners could easily sell their business for HK$2 million. [OysterMine] is a mid-tier restaurant. I don’t understand why he would sell it for such a low number.”

Bosco also has another restaurant business in the market: House Music Club, which he invested over HK$3 million in with a few business partners. However, he too sold House Music Club within a few years of its establishment.

Source: Eastweek

This article is written by Addy for JayneStars.com.