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 an exclusive telephone interview with Hong Kong 01, the 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 from friends. Yuan invested in the company's operation, but still could not deal with the rent issue. Recently, at least three shopping mall branches have been taken over by bailiffs: "(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.
"Hong Kong 01" contacted Crostini founder Wong Kwong Fai, who acknowledged in response to the enquiry that after the outbreak of the epidemic, there were difficulties in business operations, and the business fell by two-thirds compared with before the epidemic. It has an impact.” He continued that because the government’s moratorium on rent recovery has ended, many shopping malls have recovered from themselves the rent owed for many months, so that the company has no cash flow to pay rent for a while, “We are very reluctant. , but there is no way to operate.”
The founder of Crostini, Huang Guanghui (right), said 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 many months of rent arrears.
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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 was no way to continue the business, so it was decided to close the entire line yesterday, "We all tried our best to save it, but because of the chain effect, there was no way to continue the business."
Crostini announced on social platforms yesterday that 15 branches were closed across the board.
(Image credit: Crostini)
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 money goes down, and I have been operating to hope that he will improve, but it is really difficult to do it now, and I really can’t borrow any more money to put it in.”
He also paid the full-time employees' August salaries earlier. "If you plan to graduate early in the morning, you won't leave the machine there." He reiterated that graduation was a last resort. I feel sorry for 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.
