Café De JarGor staff considers mass resignations

Local restaurant Café De JarGor's staff is mulling mass resignations after wanting to buy back shares which resulted in its main shareholder Most Kwai Chung placing a higher buyback price. According to the official statement on its Facebook page, Café De JarGor said Most Kwai Chung, the main shareholder of the company, had no representative to participate in the management and operation of the Café De JarGor, and its subsidiary snack store JarGor.

Back in February this year, the owner of the restaurant formally proposed to the management of Most Kwai Chung to terminate the partnership, and requested to buy back its 49% of shares held by the company at the actual market value back in 2018.  However, the incident has been delayed for more than six months, the restaurant had to consult its legal team for further actions, according to the statement.

"Until the beginning of this month, the price that Most Kwai Chung offered has shocked the whole team. We just simply cannot accept the offer and how we are required to pay much more than the original market value of our own shares of the company. If the situation goes on, JarGor team might result in mass resignations. This is the only way to protest against the power," the post read.

This comes after Most Kwai Chung, operator of 100Most, appointed Danny Fung as its new chief operating officer. According to his LinkedIn, Fung described himself having 25 years of all-round experience in the media, from editorial to corporate management.

He also said he has hands-on experience and understanding in the local media landscape, from traditional media (TV, radio, newspaper ) to new media such as app development and social media marketing.

Prior to the new role, Fung was assistant general manager of corporate affairs of Towngas. He was also the co-founder and executive director of local free newspaper am730, where he was involved in editorial and marketing strategies that made am730 excel in both brand awareness and advertising market share. 

In addition to managing the daily operation of the newspaper, Fung was also responsible for monitoring business performance and the new area of internet advertising. Having over 13 years of experience in media management, Fung has garnered experiences in planning different types of advertising campaigns, while maintaining close relationships with advertisers.

Back in 2018, Most Kwai Chung has decided to stop its print version 100Most after running for five years, since March 2013.

According to the latest issue of 100Most, the final printed version has already published and was out on 12 July. The company decided to "echo with its self-created Green Thursday", and the weekly magazine will now only be published online starting from next issue, which is scheduled to be available on 19 July across its Facebook page and Instagram account.

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