Jollibee closes 14 Yonghe King stores in Hubei, China

Home-grown fast food giant Jollibee Foods Corp. (JFC) said Tuesday it has temporarily shut down more than a dozen noodle restaurants in Hubei province, China in light of the outbreak of the novel coronavirus acute respiratory disorder (nCoV-ARD).

In a disclosure to the Philippine Stock Exchange, JFC said it has closed 14 Yonghe King all located in Hubei province, where Wuhan City - the epicenter of the nCoV outbreak - is located. The closure was in accordance with the Chinese government’s efforts to contain the spread of the virus.

“The 14 stores represent less than 1% of the total JFC store network and 3.6% of the total store network in China,” the company said.

JFC has a total of 5,973 stores worldwide comprised of 3,316 in the Philippines, 389 in China, 1,572 in North America, and 696 in Europe, Middle East and other parts of Asia.

China accounts for 6.5% of the company’s store network and 7.4% of the global system wide sales.

“While it is too early to determine the total impact of the novel coronavirus on its business in China, JFC remains very committed to keep building and growing a profitable business in China,” the fast food giant said.

“For 2020, it plans to open more stores in China, mostly Yonghe King, in line with it goal to become a significant player in the restaurant industry in China,” it said.

JFC said it envisions to build at least 1,000 stores in China in the next few years and that the country will provide a significant contribution to the profit of the company.

The number of confirmed deaths from China's coronavirus outbreak has spiked to 425, after authorities in Hubei province reported 64 new fatalities Tuesday. 

In its daily update, figures from the health commission in Hubei, which has been hit hardest by the virus, also showed a sharp increase in confirmed infections with 2,345 new cases.

That puts the national total at 19,550, based on numbers previously issued by the central government. — RSJ, GMA News