Juice chain Hui Lau Shan served with winding-up order
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Juice chain Hui Lau Shan has been served with a winding-up order in Hong Kong’s High Court over unpaid rents for one of its mall locations, dating back to October.
Hong Kong-headquartered Hui Lau Shan, known for its mango platter and glutinous rice balls in mango juice, has 260 stores around Asia, including in the Philippines, Malaysia and Mainland China.
According to the South China Morning Post, the winding-up petition was filed by Kuen Kee Trading Company and relates to a store in Kowloon which has been vacated.
A separate legal action was filed the same day over HK$195,000 (US$25,000) in rent arrears for a store in Lam Tin.
Since 2012, Hui Lau Shan has been pursuing a regional growth program, but the advent of social unrest in Hong Kong mid last year significantly impacted on sales.
Founded by Hui family, Hui Lau Shan opened its first outlet in Yuen Long in the 1960s. In 2007, Hui Lau Shan was acquired by private equity firm Navis Capital Partners.
According to the South China Morning Post, Hui Lau Shan has received at least six legal actions since last November alleging unpaid rent at multiple stores.
Questions & Answers
Q.What is the primary reason for Hui Lau Shan being served with a winding-up order?
What is the primary reason for Hui Lau Shan being served with a winding-up order?
The juice chain received a winding-up order in Hong Kong’s High Court due to unpaid rents for one of its mall locations. These arrears date back to October of last year.
Q.Who filed the winding-up petition against Hui Lau Shan?
Who filed the winding-up petition against Hui Lau Shan?
The winding-up petition was filed by Kuen Kee Trading Company. This specific action relates to an empty store located in Kowloon.
Q.How much money does Hui Lau Shan owe in rent arrears for the Lam Tin store?
How much money does Hui Lau Shan owe in rent arrears for the Lam Tin store?
A separate legal action was filed for HK$195,000, which is approximately US$25,000. This amount represents rent arrears specifically for a store situated in Lam Tin.
Q.Which event significantly affected Hui Lau Shan's sales figures?
Which event significantly affected Hui Lau Shan's sales figures?
The advent of social unrest in Hong Kong in the middle of last year significantly impacted sales. This occurred while the company was pursuing a regional growth programme since 2012.