Another old Chinese restaurant in Auckland has been closed! More than 2,500 companies in New Zealand have gone bankrupt in a year…

Reprinted from the New Zealand Chinese Pioneer Public Account (ID: Chinese_Herald)

Today, bad news came from the Auckland catering circle again.

lie inNewmarketofNew World Seafood Restaurant (Sun World)has been operating locally for more than 20 years.

As the “taste memory” of many Chinese families and international students, this was once the first choice for everyone to have morning tea, snack parties, and treats on weekends.

However, time flies, and this old Cantonese restaurant that carries the memories of a generation has finally failed to withstand the cold wind of the market.

Today, a closure notice was posted at the entrance of the restaurant.

Source: New Zealand Chinese Pioneer Network

The huge hall is empty, and the fun-filled cart snacks used to be no longer heard, and are replaced by a sigh of silence.

Source: New Zealand Chinese Pioneer Network

Two weeks ago,Old Cantonese Restaurants in the city center:Dragon Boat Restaurant also announced that it has entered the bankruptcy liquidation process, ending its 31-year business history.

This is the Nth restaurant that has closed down.

According to New Zealand Credit Reporting AgencyData provided by Centrix shows that in the past 12 months,A total of 2,564 catering companies went bankrupt across New Zealand.This is 19% higher than the 2158 companies in the same period last year.

At the same time,There are 297 hotel companies going bankrupt and liquidationcompared with 199 companies in the previous year.

Retail consultant Chris Wilkinson pointed out that many businesses have reached a “tip point that cannot be overcome.”

“Costs have been rising all the way, but prices cannot be increased infinitely. Customers are unwilling to pay for the bill, so some companies that were originally well-managed can only fall.”

Marisa Bidois, CEO of the Catering Association, said bluntly: “The industry is suffering a lot.Costs soared, but customer consumption was sluggish. In addition, remote offices were prevalent and the number of tourists had not recovered, and the daytime business of many restaurants was seriously affected.”

Antje Fiedler, senior management lecturer at the University of Auckland, said the collapse of some businesses may cause difficulties in operating other nearby businesses.

“If you walk down the street and find that there are a lot of stores that are renting or closing, then it may be less attractive for consumers to go shopping. The same is true for other places.”

Fiedler saidHigh interest rates allow families to reduce catering consumptionif there is an increase in international tourists and international students, vitality may be brought, so the government should boost market confidence through “counter-cyclical” means such as infrastructure investment.

Gareth Kiernan, chief forecaster at Infometrics, saidThe pressure in the catering industry is emerging later than in other industriespartly because international tourism once supported consumption after the border reopened.

But at the end of 2024 and the first half of 2025, catering consumption has just appeared A slight growth of 0.2%；

Card swiping data shows that catering sales in most months of this year are still lower than last year.

His conclusion is: “With the labor market weakening and the cost of living, catering, such ‘optional consumption’, will still struggle in the next six months, and the urban catering industry may face longer pressure.”

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