Latest News about Mon Hue
Foreign investors of the loss-making Vietnamese food chain Mon Hue have claimed that some US$80 million has disappeared from the firm’s bank accounts.
Many big players have had to leave, but the Vietnamese food & beverage (F&B) market has never been more attractive in the eyes of investors.
Before its Mon Hue chain had to shut down, Huy Vietnam was praised as the pioneer in developing food & beverage (F&B) chains, which had successfully called for tens of millions of dollars worth of foreign investment.
The closure of much of the Mon Hue chain has demonstrated the risk that food and beverage businesses can suffer from, as the collapse cements that attracting investment funds does not equal an ability to balance the books.
A woman who introduced herself as an investor of Huy Viet Nam, the company that owns Mon Hue restaurant chain, wants to buy Mon Hue to revive the unprofitable chain.
Six Asia-based investors of Huy Vietnam are filing a lawsuit against founder Huy Nhat for suddenly closing the Mon Hue restaurant chain.
Mon Hue, a chain of restaurants with a large network of outlets across the country, suddenly closed its doors recently.
Major investors of Huy Vietnam Group Limited have taken legal action against Huy Nhat, the founder and chairman of Mon Hue, a chain of up to 80 restaurants across the country, as the firm has closed its eateries due to heavy debts.