Crostini, an Italian-style pastry shop, suddenly announced last night (13th) that it would be closing all its stores, which drew criticism from many netizens and customers.
In response to the inquiries of "Hong Kong 01", founder Huang Guanghui said that since the outbreak of the epidemic, his business has dropped by two-thirds, and the government's moratorium on rent recovery has ended. Faced with huge rent expenses, he has privately borrowed 80 million yuan from friends. It was put into the company's operation, but it still could not deal with the rent problem. Recently, at least three mall branches were closed by the bailiff: "(After making the decision) I couldn't sleep, and I felt that I couldn't handle the customers and colleagues."
Crostini suddenly announced on its facebook page last night that it had closed its entire line, involving more than a dozen branches, which attracted a lot of criticism from customers.
Customers who purchased Crostini cake cards and gift certificates immediately set up a "Crostini Bitter Lord" group last night, and the group has more than 300 people until now.
Calls the end of rent moratorium the 'last straw that broke the camel'
"Hong Kong 01" contacted the founder of Crostini, Huang Guanghui, and he admitted in response to the inquiry that the business had encountered difficulties after the epidemic began, and the business had dropped by two-thirds compared with before the epidemic. It has an impact." He continued, pointing out that the last straw that broke the camel's back was because the government's moratorium on rent recovery had ended, and many shopping malls were recovering from themselves the rent owed for many months, leaving the company without so much cash flow for a while. Pay rent.
Crostini announced on social platforms yesterday that 15 branches were closed across the board.
(Image credit: Crostini)
He revealed that he has been discussing with the shopping mall owners how to deal with it, but recently at least three shopping mall branches have been taken over by bailiffs, including Tsuen Wan Qiansehui and Ma On Shan MOSTOWN, etc., which triggered a chain effect and caused other shopping malls to chase rents. There is no way to continue operating, and it was decided to close the whole line yesterday.
Huang: If there is a plan to graduate, the machine will not be put in
Regarding the question of some bitter masters why he still launched the cake card in early September even though he knew he would graduate, Huang Guanghui reiterated that he had never thought of graduating. The August salary of full-time employees was paid. "If you plan to close your school early in the morning, you won't leave the machine there." He reiterated that closing is a last resort. customers and colleagues.”
According to the website Time Machine, Crostini's website still showed 15 branches on April 6.
At present, Crostini's website is no longer able to browse its branch address.
(Image credit: Crostini)
He also pointed out that he is still trying to find new investors to inject capital into the company, hoping to raise funds to restart operations. "We don't really want to leave." As for the cake cards purchased by customers and the salary of employees in September, they can be liquidated. Officer to deal with.
Crostini's employees rushed to the office building to pick up items The ribbon-cutting Crostini still sells coffee coupons before the closing of the business. Customers are shocked to see that the coffee machine has been taken away: I have to return milk for Western-style pastry shop Crostini suddenly announced the closure of the whole line.
