Catering Industry Challenges: Kam Kee Holdings' Resilience in Hong Kong
Sunday, 18 August 2024, 23:00
Catering Industry Decline and Kam Kee Holdings Response
The catering industry in Hong Kong is facing significant turmoil as Kam Kee Holdings announces the closure of 11 outlets this year. The company’s chairman, Ray Chui Man-wai, emphasized commitment to the business despite dropping statistics and rumors of financial instability.
Impact of the Pandemic and Business Restructuring
- The company reported a 30% drop in weekend business.
- Chui stated ongoing restructuring efforts and discussions for funding with foreign investors.
- Statistics indicate a 15% business decline for the year.
Responsibility and Future Outlook
- Chui pledged to retain 24 profitable restaurants.
- Despite debts, he reported manageable repayments.
- Industry experts anticipate a potential recovery by early next year.
Chui highlights the necessity for more governmental support to aid struggling businesses in the catering sector.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.