Retail chain AbouThai announced on Wednesday to cut all ties with the “yellow economic circle,” an economy involving shops and businesses in support of the 2019 protests, with its founder Mike Lam King-nam saying it is a wrong demonstration and vowing to serve Hong Kong and China.
Lam is among the 47 democrats arrested by national security police over the 35+ primary election and charged with conspiracy to subvert state power. He has recently pleaded guilty and become a witness for the prosecution.
“Hong Kong cannot return to chaos, and Hong Kong cannot afford chaos as well,” an official statement on
Facebook read.
“The yellow economic circle is a wrong demonstration, and AbouThai officially announces to cut all ties with it.”
“As Hong Kong progresses from order to prosperity, AbouThai will continue to serve Hong Kong and tell its stories right so as to contribute to Hong Kong and China in the future.”
Many cursed Lam in the comment section of his post, but some stated that they would still support Lam and his retail chain.
On the other hand, some questioned why Lam switched his political stand and cut ties with the democrat side.
Back in January, national security trial co-defendant Lester Shum O-fai wrote on
Facebook and called on Hongkongers to boycott AbouThai.
Lam, at that time, told the public to understand and empathize with those who had been remanded in custody for an extended period as they couldn’t receive the latest information and their emotions were affected.
According to local reports, the retail chain is being sued by landlords as it has yet to settle some HK$1.3 million in rent for its five branches.
That includes its flagship store in Kwun Tong shopping mall APM with the amount of unsettled rent totaling about HK$390,000 in two months.