Businesswoman and car enthusiast Angelina Mead King announced Tuesday that some of her Victoria Court branches in the Philippines are closing due to the economic impact brought by COVID-19 pandemic.
Angelina owns and runs the southern branches of Victoria Court while her brother Atticus King runs the northern branches.
Angie said in a video she posted online that motels and hotels could not “produce the same results” as it used before the virus outbreak.
She explained that Victoria Court would need to be in survival mode to brace the economic effects of COVID-19 in the hospitality industry.
King’s full statement reads as follows:
“To my dearest employees, it deeply saddens me to have to record this video. As many of you know by now, we are facing unprecedented times in this world. This COVID virus has really decimated all facets of life.
“As much as I have been trying to extend a helping hand to each and every one of you over these past few months, it is with a heavy heart that I now have to make a life-changing decision that will affect us all.
“Over the next few weeks, I don’t think that hotel and motel operations will be able to produce the same results as how we used to. It is time that we face the facts and be honest, and try to prepare for what’s coming.
“Even though we have been accepting OFWs, BPOs, and maritime crew, it is still not enough for the business to sustain itself and take care of all of us. We all have to go into survival mode. It is better for us to prepare for this now, rather than ignore it.
“Over the next few weeks, we will be preparing your retirement and retrenchment packages, so that you will have some funds to survive over the next few months. Please don’t think that we have come to this decision lightly. It was a great difficulty. I want to let you know that we value all your hard work and loyalty that you have given during my management. And I really wish there was another way to go about this.
“For now, I have to advise you to please look for another job to support yourself and your family during these tough times. And when the business does reopen again, you’ll be the first ones that we call back. I want to say please, stay safe, stay healthy, stay hopeful. I want to wish everyone the best of luck. This is your CEO signing out.”
Angelina Mead King’s brother Atticus meanwhile said his branches of Victoria Court are not closing. Instead, they “opted to do a deep retrenchment to try to keep the lights on until things revert back to normal.”