Jollibee shuts down hotpot dining business
Jollibee Foods Corp. has ceased operations of the 12 Hotpot brand in the People?s Republic of China as it decided to focus on building its larger and fast-growing businesses in the world?s largest economy and other parts of the world.
With JFC?s decision, the operating company 12 Hotpot (Shanghai) Food and Beverage Management Co. Ltd. shall be dissolved and liquidated five years after its launch.
JFC owned 48 percent of the joint venture with Taiwan?s leading restaurant operator Wowprime Corp.
The 12 Sabu brand served low-priced hot-pot dishes served in a clean and bright dining environment?.
JFC ?s businesses in China include Yonghe King, which has a network of 305 stores; Hong Zhuang Yuan (44 stores), and Dunkin Donuts (18 stores).
The group has also been operating Happy Bee Foods Processing Co. which supplies the products to its restaurants.
JFC, the largest fastfood chain in the country, had a total store network of 3,644 across the world, of which 2,756 are located in the Philippines.