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Hong Kong’s Largest Restaurant Closes

June 6, 2002

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HONG KONG (AP) _ Some 2,000 restaurant employees lost their jobs after one of Hong Kong’s largest restaurant chains collapsed, a labor unionist lawmaker said Thursday.

The 25-year-old Treasure Restaurant Group announced its closure late Wednesday by posting notices outside its restaurant branches after they closed for the day, said Leung Fu-wah, a lawmaker from the Federation of Trade Unions.

The restaurant group has closed a total of 17 branches, including four during the past few months, said Labor Department spokeswoman Flora Loh.

Loh said the company has filed for voluntary bankruptcy. Treasure Restaurant Group didn’t answer phone calls seeking comment Thursday.

Unemployment in Hong Kong now stands at a record 7.1 percent.

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