Hoi King Congee — 33-year HK chain collapsed; founder lost everything saving it

Hoi King Congee, Hong Kong's first chain congee shop, closed every single store on 7 May 2025. The parent company sent a letter to all employees announcing the immediate closure of all stores, the central kitchen, and the head office. The brand had operated for 33 years and peaked at more than 30 locations across Hong Kong and Macau.

The collapse left a devastating human trail. Xiao Chuji injected more than HK$30M of his personal fortune and sold his only residence, yet could not save the chain. In Jan 2026, the High Court declared him bankrupt. Bank of Communications also sued the company, Xiao and co-founder Cai Wanghao over HK$3.76M in unpaid loans. Cai had sold a HK$48M property to inject funds. The company owed 80–100 employees more than HK$8M in unpaid wages and severance, plus approx HK$570,000 in unpaid MPF contributions.

Hoi King Congee was founded in 1992 by Xiao Chuji and Cai Wanghao, opening its first store in Hung Hom. It grew to become a household name in Hong Kong, pioneering the concept of a chain congee shop — an idea that seemed unlikely to succeed at the time, since congee was traditionally seen as a breakfast item, not a restaurant business. The chain proved congee could sell at any hour, but over three decades rising rents, younger tastes, and consumers crossing into mainland China overwhelmed it. The Wanchai store's rent went from HK$210K to HK$270K per month alone.

The closure was one of the most notable in Hong Kong's 2025–2026 wave of restaurant chain collapses, because it combined a long-established brand, a founder who sacrificed everything, and a category — traditional Cantonese congee — that simply could not compete in the modern market.