Future Bright Group closed 12 F&B establishments in 2021

Major Food and Beverage (F&B) operator Future Bright Group has reportedly closed a total of 12 food and beverage establishments in 2021, 11 of which were in Macau.

According to the company’s annual report filed to the Stock Exchange of Hong Kong (HKEX), last year, the group closed seven restaurants, one coffee shop and three food court counters in Macau, as well as one food court counter in Hong Kong. In the report, the chairman of the company, Johnny Chan See Kit, attributed the closures to the impacts of the Covid-19 pandemic.

The company, which has a significant presence in Macau and is part-owned by lawmaker Chan Chak Mo, has also reported a loss attributable to shareholders of some HKD72.9 million, a figure that still represented a decrease of some 39.7% when compared to the 2020 results.

According to the detailed information, the total loss of HKD72.9 million is mainly attributable to the Group’s food souvenir business (HKD8.9 million). The group’s food and catering business recorded losses of HKD57.5 million which included losses related to the closure of restaurant venues.

Among the F&B establishments closed in 2021 are venues at The Venetian (4), The Parisian (2), and Hotel Lisboa (1). A big slice of the closures also came from the University of Macau, which registered four closures, including a student canteen.

The group also reported the 2021 closure of three food souvenir kiosks under the Yeng Kee Bakery brand.

The same report also noted that the group has already scheduled several other closures of F&B venues in April and May this year in Macau, Hong Kong, and Zhuhai.

As for new openings, the group said it is planning to open a casual Cantonese restaurant in Macau in the first half of 2022, as well as three food court counters at Lisboeta Macau, the last of which had its opening postponed to “the later part of 2022” or even later, as “management will assess the timing in view of the Covid-19 pandemic situation.”