Brief: Capital Estate Ltd Updates On Suspension Of Operation Of Hotel Fortuna, Foshan

Capital Estate

19/02/2020 09:59

Feb 19 (Reuters) - Capital Estate Ltd  0193.HK :
    * UPDATES ON SUSPENSION OF OPERATION OF HOTEL FORTUNA,
FOSHAN
    * 250 EMPLOYEES, REPRESENTING ABOUT 90% OF HOTEL'S STAFF,
WILL BE
MADE REDUNDANT PROGRESSIVELY
    * HOTEL FORTUNA BEEN TEMPORARILY SUSPENDED SINCE LATE
JANUARY 2020
AND WILL REMAIN SUSPENDED UNTIL FURTHER NOTICE
    * ONLY A MINIMAL NUMBER OF STAFF WILL BE KEPT IN ORDER TO
MAINTAIN
HOTEL PROPERTIES
    * OPERATION OF HOTEL HAS BEEN TEMPORARILY SUSPENDED SINCE
LATE
JANUARY 2020 AND WILL REMAIN SUSPENDED
    * BOARD BELIEVES GROUP'S CASH FLOW WILL NOT BE SIGNIFICANTLY
AFFECTED IN NEAR TERM

Source text for Eikon:  ID:nHKSypMPy 
Further company coverage:  0193.HK 

 (Reuters.Briefs@thomsonreuters.com)