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Jollibee padlocks 14 China stores in coronavirus epicenter

/ 10:11 AM February 04, 2020
yonghe king

SCREENGRAB FROM http://www.yonghe.com.cn/index.php/Index/index

Fast-food giant Jollibee Foods Corp. (JFC) has temporarily padlocked 14 of its restaurant outlets under the Yonghe King brand in central China’s province of Hubei, whose capital city, Wuhan, is the epicenter of coronavirus contagion.

JFC has likewise taken steps to protect the health of its employees in China and contributed to the community by providing free meals to front-line medical staff since Jan. 30, JFC told the Philippine Stock Exchange on Tuesday.

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China accounts for 6.5 percent of total JFC network and 7.4 percent of global systemwide sales. Within China, the 14 closed stores located in Hubei represented less than 1 percent of the total JFC store network and 3.6 percent of the total store network in China.

The shutdown of the 14 stores is part of China government’s efforts to contain the virus that has spooked the global community. Yonghe King is a local noodle house chain that JFC acquired in 2012 and expanded since then.

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JFC said it’s ”taking the necessary measures to protect the health of all its employees in China, such as allowing employees to work from home, providing them with health guidelines to keep them and their families healthy and safe, including providing them with protective masks.”

“While it is too early to determine the total impact of the novel coronavirus on its business in China, JFC remains very committed to keep building and growing a profitable business in China,” the company said.

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TAGS: JFC, Jollibee Foods Corp., Yonghe King
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