Taipan Bread and Cakes, a bakery chain from Hong Kong that invented snow skin mooncakes, has closed all its branches after 41 years in operation.
Notices about the closure were spotted at various branches of the chain on Tuesday.
“Due to many unpredictable and irresistible shocks recently, our company regretfully announces that it will officially cease operations from [Tuesday],” a notice said.
“Thank you for your support and love for our company over the years. We sincerely apologise for any inconvenience this may cause.”
Three branches at the MTR stations of Choi Hung, Tai Wai and Whampoa had stopped operating earlier.
The chain was previously sued by landlords for unpaid rent, with some of its employees also reporting delays in receiving their wages.
Taipan earned its reputation in 1989 by creating the snow skin mooncakes, also known as snowy mooncakes, which feature a chilled, glutinous rice flour skin instead of the classic pastry.
A 68-year-old woman, surnamed Lee, said she learned about the closure of two stores from a Facebook post the previous day and planned to use her HK$120 (US$15) in coupons at the Causeway Bay branch on Tuesday.
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“How could you have known? They all closed suddenly. Now, my coupons are nothing but out-of-print souvenirs,” the retiree, who had a Taipan membership, said.
Lee said she had observed signs before the closure.
“As a member, I am entitled to a 10 per cent discount, but the machine [at the Causeway Bay store] has been out of service for two weeks, so I haven’t been able to use it. I guess it’s not entirely unexpected,” she said.
Lee added that her friend also noticed the North Point branch had little stock on Monday, despite it usually being filled with cakes and tarts.
A 77-year-old woman, surnamed Cheung, who had planned to shop at Taipan in the morning, expressed regret over the frequent closures of local chains.
“I thought it was its last day and wanted to buy its bread one final time,” she said after reading the news about the bakery chain’s financial situation.
“Even the shops that have been around for decades are closing down. It is such a pity,” Cheung said. “It’s hard to do business now. People are spending in mainland China and the economy is bad.”
Taipan is the latest chain to close in Hong Kong.
Hong Kong’s retail sales dropped for a 14th consecutive month in April, falling by 2.3 per cent, year on year, to HK$28.9 billion (US$3.7 billion). For the first four months, retail sales were down by 5.6 per cent over the same period last year, as witnessed in a string of chain closures.
