Bakery chain closes three HK branches

Macau-headquartered souvenir food chain Koi Kei Bakery is closing branches in Tsim Sha Tsui, Causeway Bay and Mong Kok because of problems in obtaining supplies from its home headquarters amid strains presented by Covid-19.

The three branches will close this Saturday to fit with Macau's epidemic management efforts and in consideration of the epidemic in Hong Kong not showing signs of easing.

Its production lines in Macau will only return to normal after a while because of problems with raw materials, logistics and labor, which has also had a knock-on effect in Hong Kong.

Koi Kei, which is noted for peanut brittle and almond biscuits, will have a branch left at the airport.

From commercial property set to fall vacant to a home still seeking an owner.

A prospective buyer forfeited a deposit of about HK$240,000 after walking away from a purchase deal for a 203-square-foot studio flat at The Esplanade in Tuen Mun. It was offered at HK$4.85 million - about HK$23,800 psf.

It was the second time a purchase deal for the flat was been called off.

The flat had sold for the same price in June last year, but a sale deal was terminated in December. Then another deal was struck for the flat, which has a 114 sf balcony, but that agreement has now been scrapped.

Developer Chuang's Consortium International (0367) has collected about HK$484,800 in forfeitures.

There was a similar situation at The Esplanade last May. A studio flat was to be sold for HK$4.37 million only for the prospective buyer to back out and forfeit a deposit of HK$218,600. Another would-be buyer made a deal a few days later, but then that deal was cancelled.