*September 4, 2024 13:38 NHK The company that operates the “Togakushi Soba” restaurant, which is said to have been founded 400 years ago in Nagano City, has decided to suspend operations and file for bankruptcy on the 2nd due to a deterioration in business performance caused by the effects of COVID-19. The business that has filed for bankruptcy is Okubo Nishi no Chaya in Togakushi, Nagano City. According to sources including Teikoku Databank, a private credit research company, Okubo Nishi no Chaya is said to have originated as a teahouse founded in 1624 during the Edo period, and operated four soba restaurants and two tonkatsu restaurants in Togakushi, Nagano City, and in front of Nagano Station. Twenty years ago, in the year up to February 2004, the company had sales of approximately 310 million yen, but sales have fallen due to the effects of COVID-19, and in the year up to February this year, sales were approximately 60 million yen. Continue reading below.
Only low-ranking public universities use the misleading term “national and public universities”! ★2 Be careful, public universities are private universities run by some local government ★4.
>>22 They couldn’t back out with 200 million yen in debt. The only way to survive is to stick to one store or keep increasing the number of stores and sales.
This is the result of a long-established soba restaurant becoming greedy to expand its business beyond its capabilities. The victims are the credit unions and credit associations that provided the loans. Apologies to your ancestors.
It’s hard to imagine a store that has been around since the end of the Edo period and before and after the war being affected by COVID-19. It must have deviated from its predecessors in some way.
Even if sales fall due to COVID and they receive loans from the government to stay afloat, if they are already barely making much profit, they won’t have the money to pay it back, so they will go bankrupt without being able to pay it back.
Sales peaked 20 years ago at 300 million, and this past year it was 60 million, but with debts of 200 million they’ve been in the red all this time, I wonder?
The only way to survive is to sell a small amount at a low profit margin, using a business model that is based on high social awareness and takes advantage of the less-informed.
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