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Hakkasan Loses $138 Million Will Shut More Restaurants and Clubs

Some more really shocking news out of Hakkasan and the money laundering scandal that has plagued it and other companies that took investments illegally from the malaysian 1mdb fund. According to recent filings, six months late in the UK, the company is still losing ridiculous amounts of money, and has never been profitable.

One director, who is not named in the reports, took $50 million in 2016-2017, not long after the scandal erupted – and the reason is not noted why one person would be paid that much especially with the company losing money.

According to Sarawakreport, “What seems notable about this decision to pay a whopping amount for directorship services is the fact that the company’s accounts show a lamentable performance in terms of profits for the period concerned.”

In the meantime, Hakkasan seems to be trying to stop the bleeding, having shut down their restaurants and clubs worldwide. Their flagship restaurant in London was shuttered recently, and even the famous one in Dubai is gone for the time.

Pesach
Pesach “Pace” Lattin has been doing online media and marketing for over 20 years and has earned the reputation of having a high standard of ethics and being an expert in both brand and direct response. Follow me
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