YG sells Quan Zhilong Cafe and Bowling alleys due to accumulated losses

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According to South Korean media reports, YG Poods, a subsidiary of YG Entertainment, has decided to sell Jeju Island, which is made up of cafes and bowling alleys. The coffee shop and bowling alley became a topic because of the active planning and renovation of BigBang's G-Dragon (GD). However, it is reported that due to the accumulation of losses, so decided to deal with.

YG Poods has decided to sell YG Republic Jeju Myth World Store, a comprehensive resort run by Jeju Myth World (hereinafter referred to as YG Republic), the securities industry said on December 12.

In the mythological world of Jeju, YG Republic consists of restaurants such as Peugeot Hall, Western Restaurant Buffet, coffee shop buffet, unpopular 2017, bowling alley Act, etc. At the end of last year, the total assets are about 600 million won.

On behalf of Lu Xiying, G-Dragon and others, YG Enter President Liang Xuanxi and YG Poods attended the YG Republic opening commemoration held in Jeju Myth World in February 2018. Although YG Republic received great expectations, the result was not good. Last year's performance was 3.1 billion won in sales, with a net loss of 1.5 billion won in the current period. The sharp decline in the number of Chinese tourists to Jeju mythology world has also had an impact.

As YG Republic swayed, YG Poods suffered a direct blow. Last year's sales were 8.7 billion won, and the net loss for the current period was 3.2 billion won. Taking the end of last year as the benchmark, it is in a state of complete capital nibbling. YG Plus, a subsidiary of YG Enter, owns 58.33% of YG Poods.

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