Home of CEO of major Hong Kong restaurant chain splashed with red paint

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Red paint was splashed on Wednesday morning at the entrance to the home of the CEO of one of Hong Kong’s largest restaurant chains, with police investigating whether the vandalism was the result of a currency dispute.

Workers could be seen cleaning the painted door of the home of Fulum Group CEO Yeung Wai on the Kam Pok road in Yuen Long on Wednesday.

Police said they first received a report at 6:07 a.m. that around eight men armed with knives were arguing outside the house over financial matters, although no one was injured.

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“Officers did not see anyone when they arrived at the scene, but spotted the red paint on the plaque and the gate of the house,” a police spokesperson said, adding that no one had been arrested. .

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Police classified the case as criminal damage, with Yuen Long District authorities investigating the incident.

Fulum Group, which operates Chinese restaurants, was founded in 1992 by three brothers – Yeung Wai, Yeung Yun-chuen and Yeung Yun-kei – and has since grown to include more than 70 restaurants across the city.

Last month, the group closed its Chinese restaurant Fulum Palace in North Point, with a notice at the branch saying it would be “gloriously closed” due to its lease expiring. The group also closed its Fulum Palace in Sheung Shui in February 2020 as the Coronavirus pandemic hit.

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In response to the closure of the North Point branch, the Federation of Restaurants and Allied Trades said last month that the restaurant had historically seen much of its business come from banquets, and speculated that the chain had suffered damage. significant losses as social distancing measures led to most large gatherings being banned.

The group’s annual report last year showed that its revenue fell 29.4% between April 2019 and March 2020, for a net loss of HK $ 637 million ($ 81.9 million), compared to to profits totaling HK $ 25 million in the previous year. .

Police figures, meanwhile, show that there were 6,432 reports of criminal damage in the city last year, down 14.1% from 7,489 in 2019.

This article Home of CEO of major Hong Kong restaurant chain splashed with red paint first appeared on South China Morning Post

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