Memorably named sandwich restaurant Eggslut is pulling out of Hong Kong less than two years after opening in Causeway Bay to long queues of people attracted by its trendy fare.
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The Los Angeles-headquartered chain said late on Tuesday that it would regroup and return “when the right moment comes”. The chain’s only Hong Kong shop, which opened in June 2023, will close on February 23.
“We are deeply grateful to Hong Kong and to all Hongkongers for your support,” the company said on Instagram. “The long queues, the joy on our customers’ faces and every like and share online – these moments will forever be in our hearts.”
The closure of the outlet, in the Fashion Walk shopping centre in one of Hong Kong’s core shopping districts, adds another casualty to a growing list of retailers and brands that have found the city’s retail environment increasingly challenging amid a shift in spending patterns.
Outback Steakhouse, an American restaurant chain serving Australian-style food that has been operating in the city since 1999, closed nine of its 19 branches last year, citing poor market conditions.
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As many as 650 street shops ended their operations in the first nine months of 2024, 44 per cent more than the same period in 2023, according to data from Midland ICI&I.
Hong Kong’s retail industry is in a period of upheaval that has forced even mainstay concepts and brands to adjust their strategies. Residents increasingly spend their money beyond the city’s borders – either in mainland China or overseas – while mainland Chinese tourists, the lifeblood of the retail industry, shell out less.