Element Fresh, a western-style heath-concept restaurant chain headquartered in Shanghai, announced on Tuesday that it is mired in financial trouble and is in the process of filing for bankruptcy and liquidation in accordance with Chinese laws.
The restaurant chain said in the announcement that its operation and chains have been seriously affected by COVID-19. It has been suffering from financial and managerial deficit.
Element Fresh will start closing its chains and central kitchens from now, as well as its administrative offices and supporting department. It will sign leave-without-pay contracts with its employees, and the company encourages them to start looking for employment.
Many netizens left comments saying they have fond memories of Element Fresh. The restaurant's healthy food can be quite good for those on a diet.
During this year's Double 11 shopping festival, Element Fresh introduced a pre-paid card on their official Weibo.com account that gives purchasers an extra 500 Yuan for every 1,000 yuan card.
Consumers who have bought the card now can return the card or use them in Element Fresh's chains that are still in operation.
