Hong Kong media: Financial difficulties, filing for liquidation, the long-established dessert brand "Xu Liushan" will close its dessert shops in Hong Kong

  [Global Times Comprehensive Report] The epidemic has lasted for nearly two years, Hong Kong's economy has not yet recovered, coupled with the scarcity of tourists visiting Hong Kong, the catering industry has been hit hard.

  According to a report by Hong Kong Headline Daily on the 18th, it was reported in May this year that the well-known dessert shop "Xu Lau Shan", which was in financial difficulties and was filed for liquidation, would close. Its last franchise store in Yau Tong was open until the end of this month and officially ended. Dessert shop business in Hong Kong for many years.

  "Xu Liushan" was founded in the 1960s. The founder Xu Ciyu sold herbal tea and tortoise jelly on a stroller in Yuen Long under the name of his father "Xu Liushan". After that, he opened a shop and also sold desserts and syrup. In the 1990s, he launched a series of mangoes. Desserts have been welcomed by the market. During the peak period, more than 300 branches were opened in Hong Kong, the Mainland, Taiwan and Malaysia.

However, in recent years, the brand has been involved in many debt lawsuits due to over-expansion and the blow of the epidemic.

In May, four creditors filed an application with the High Court for the winding up of Xu Liushan Food Manufacturing Co., Ltd., and the court issued a winding-up order to the company.

At that time, many branches of "Xu Lau Shan" closed one after another, leaving only the branch in Yau Tong.

  Hong Kong’s Oriental Daily News reported on the 18th that “Xu Liushan” changed hands for the first time in 2008. His family sold the brand to Malaysian investors. Seven years later, it was sold to more than 500 million yuan by the mainland catering group and Huang Tian International, which operates “Huang Ji Huang”. Yuan Renminbi acquisition.

Later, "Xu Liushan" planned to be listed in Hong Kong. At that time, it had 276 branches around the world, of which 208 were located in the mainland.

(Yang Weimin)

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