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Aori Ramen files for bankruptcy due to COVID-19
The company said consumer boycotts of Japanese goods in South Korea also affected their business.
Japanese ramen chain Aori Ramen has collapsed, citing impact due to the COVID-19 outbreak and the reported boycott on Japanese goods in South Korea.
Per local reports, Aori F&B filed for bankruptcy with the Seoul Bankruptcy court with its debts exceeding the value of its assets. All Aori Ramen branches are expected to close, including outlets in China and Malaysia.
Aori F&B said it also experienced major losses after its founder Seungri was involved with the ‘Burning Sun’ scandal. It eventually cut ties with the South Korean singer.
