Jumbo floating restaurant exits Hong Kong due to cost crunch

Situated in Hong Kong for nearly 50 years, Jumbo Floating Restaurant has decided to leave the city next month as owners claim to be running out of money to keep the structure in good condition.

Jumbo Floating Restaurant’s parent company Aberdeen Restaurant Enterprises said in a statement that there is no available dry dock for Jumbo Floating Restaurant in Hong Kong, and it is unable to carry out large-scale inspection and maintenance for the floating restaurant every three years. As a result, it has decided to move Jumbo Floating Restaurant out of Hong Kong next month for inspection, maintenance and storage. The company also pointed out that it is now looking for suitable berths to reduce costs, as well as waiting for new operators and finding new ways to run the historic restaurant. 

"Aberdeen Restaurant Enterprises Limited, the parent company of Jumbo Floating Restaurant, had made every effort to donate Jumbo Floating Restaurant, at no cost, to any company or organisation interested to take over the operation. In November 2020, a positive response came when the government announced in the Policy Address that it had agreed to accept its offer to unconditionally donate Jumbo Floating Restaurant to Ocean Park as part of the Invigorating Island South project," the company said. 

Over the past year, the company had discussed with more than a dozen companies and institutions to donate Jumbo Floating Restaurant for free, but all parties said operating costs were too high. Then the company continued to spend an average of millions of Hong Kong dollars every year to inspect, repair and maintain the restaurant to meet its license and other requirements, “however, in the current economic environment, it lays a heavy burden for the company and its shareholders,” the company added.

The statement also concluded that, the vessels license of Jumbo Floating Restaurant will expire in June this year, and “it is foreseeable that the seafood restaurant will not resume business in the short term", and there are currently no available Jumbo Seafood Restaurant in Hong Kong. "The parked berth of the shipyard has not been able to conduct large-scale inspection and maintenance for the seafood boat every three years.” it added.

The restaurant has been closed since early 2020, with its owner reporting an accumulated loss in excess of HK$100 million (US$12.74 million) after the pandemic devastated the tourism and catering industries already under strain since the social unrest in 2019.

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