[Explanation] The epidemic situation of Hong Kong's new crown pneumonia continues. A number of retail companies, including Dazhong Bookstore, Snake King II, and Tsui Wah Restaurant, have announced their closure, will soon close, or will close multiple stores.

[Explanation] The Michelin Restaurant in Causeway Bay, Hong Kong will be closed at the end of April. Store manager Luo Changxi said that the store business has been affected by the violence and the epidemic in the past year and can no longer be sustained. He has experienced SARS and the financial tsunami. He did not expect that Hong Kong ’s retail industry will suffer even worse than before, with monthly shop rents and wages exceeding 700,000 Hong Kong dollars, but business plummeting by 70% and monthly losses exceeding 200,000 Hong Kong dollars.

[Contemporary] Luo Changxi, Manager of the Second Snake King Restaurant in Hong Kong

After the epidemic broke out, our business fell by 70% in February, and the boss decided to wait until the epidemic passed before making a plan; just as our lease was about to expire at the end of April, we might as well suspend business first and plan again after six months. It is mainly because the epidemic affects the confidence of citizens to go out. The business we do is the business of relying on street customers on the streets and alleys, so we are the most affected.

[Explanation] The reporter found that there were a lot of customers sitting in the "Snake King II" shop at noon that day. Luo Changxi said that many neighborhoods knew that the store was going to close down and came to miss it for the last time. He said that the store has a history of 36 years. He has worked for more than 20 years and has been promoted to a manager from roasting meat. Everything in the store is his memories. He felt helpless about the shop closure and didn't want this time-honored sign to fall.

[Contemporary] Luo Changxi, Manager of the Second Snake King Restaurant in Hong Kong

(Citizens) know that we are going to close the business. Some old customers who support us come to think of it. In fact, it is not just Hong Kong. It is the case in many parts of the world. I regret that I personally experienced this unhappy event. I really regret it. I look forward to seeing customers who support us again one day, and I am really looking forward to it.

[Explanation] Cuihua, a well-known chain restaurant in Hong Kong, recently closed several of its stores. The reporter saw that the closed Cuihua restaurant was filled with real estate agency advertisements. In response to the media, Tsui Wah Chairman Li Yuankang pointed out that Tsui Wah Central ’s Wellington Street flagship store was temporarily closed.

[Explanation] On March 19th, Hong Kong's well-known chain bookstore Dazhong Bookstore announced that its 16 bookstores were closed. The reporter saw at the TOP store in Dazhong Bookstore that the glass door of the store had been locked, the floor where the bookstore was empty was empty, and a large number of posters such as "big clearance sale" and "half price stationery" were posted in the store. It is understood that the public bookstore Huangpu Garden Branch has been sued by the owner for recovering rent arrears.

[Explanation] Previously, the chairman of the Hong Kong Retail Management Association Xie Qiu Anyi estimated that the overall retail sales of Hong Kong in the first half of 2020 will fall by about 30% to 50%, which may become the largest half-year drop since the release of retail data.

Reporter Zheng Xing reports from Hong Kong

Editor-in-chief: [Wang Kai]