Oh dear the “bosses” went off the grid and it seems like they have the restaurants en masse while owing debts to more than a hundred suppliers.
Tuoi Tre News first reported on Friday 23 October 2019 that the business was in trouble. No employees were seen at their emptied office at 302-304 Vo Van Kiet Street in District 1. Their website has also been taken down.
Well, it is too apparent that the management has decided to abscond with the remaining money.
The business was sold to investors in 2018 and became 100% foreign owned. Fake accounting documents were presented to these investors to show that the business was making money while in fact it had made over $4 million in losses.
Then employees were not paid followed by defaulting on payments to the suppliers. The original business legal representative Huy Nhat was replaced by another person named Nguyen Quynh Anh in early October.
It is all too obvious.
Let this be a lesson.
Source: Tuoi Tre News