The bankruptcy application was filed on Tuesday.
Archive from Momotoko Restaurant 2021. Joel Maalmi
The restaurant chain Momotoko has filed for bankruptcy. Cathywong Oy, a background company that runs Japanese Ramen restaurants, submitted a bankruptcy application to the Helsinki District Court on Tuesday, May 13th.
The bankruptcy proceedings started on Thursday, May 15.
Momotoko’s background company Cathywong Oy has fought with financial difficulties in recent years, but has still been running a million businesses for a long time. According to the latest financial statements in 2023, the company’s turnover was as much as EUR 6.1 million, but the company made a loss of EUR 108,000 during the financial year.
The Momotoko restaurant chain, which opened its first restaurant in 2015, has a total of seven restaurants in Helsinki, Vantaa, Espoo, Turku and Tampere.
Momotoko is especially known for its Japanese Ramen noodles.
Reported earlier Helsingin Sanomat.