Hong Kong’s Yung Kee Restaurant closes and files for liquidation — worst-case scenario: the famed roast goose may lose its flavor

▲ Sibling rivalry sparks inheritance battle, leading to the flagship roast goose restaurant Yung Kee entering liquidation proceedings. (Photo / Courtesy of Wikipedia)

Travel Center / Comprehensive Report

Sibling rivalry sparks inheritance battle, leading to the flagship roast goose restaurant Yung Kee entering liquidation proceedings. According to Central News Agency, the parent company of Yung Kee, founded by the late Kam Shui-fai, saw irreconcilable differences between the side of his eldest deceased son, Kam Kin-sing, and that of his younger son, Kam Kwun-lai, regarding the share sale price. The liquidation order officially took effect on the 17th. Since the liquidators will act in the best interests of shareholders and may auction off Yung Kee’s assets, the iconic brand could end up in someone else’s hands.

As reported by Central News Agency, the Hong Kong Court of Final Appeal issued a liquidation order against Yung Kee on the 11th of last month. Although both parties subsequently applied to extend the enforcement deadline to December 16 to give Kam Kwun-lai’s side time to negotiate the repurchase of a 45% stake in the company from the side of the deceased elder brother Kam Kin-sing, they ultimately failed to reach an agreement on price, with a difference of up to HK$100 million. Although Kam Kwun-lai’s side applied for a stay of execution of the liquidation order on the evening of the 16th, it was rejected, and the parent company of Yung Kee officially entered liquidation proceedings.

After the liquidation order takes effect, a third party will assess and calculate the value of Yung Kee’s assets. However, Kam Kwun-lai’s side stated that the liquidation will not affect the restaurant’s operations, and customers can still visit Yung Kee to enjoy its roast goose.However, what worries most people is that if Yung Kee’s current building is auctioned off and the restaurant is forced to relocate, the traditional charcoal ovens used to cook the roast goose cannot be moved. Moreover, Hong Kong no longer issues licenses for large charcoal ovens. Even if Yung Kee manages to reopen, diners may never again taste roast goose cooked the traditional way over charcoal.