Source:
https://scmp.com/business/companies/article/2161972/759-stores-new-boss-quashes-takeover-rumours-wants-junk-food
Business/ Companies

759 Store’s new boss Tang Fung-kwan quashes takeover rumours, wants snack food chain to stay the course

Tang Fung-kwan, the new chairwoman of CEC International, says she has the firm backing of the founding chairman’s family

759 Store started off selling snacks from Japan and Korea and later expanded into other food and grocery items. Photo: SCMP

The newly appointed chairwoman of CEC International Holdings, which owns the popular 759 Store in Hong Kong, said on Thursday that there are no plans to sell and she would press on with the late founding chairman’s efforts to turn around the loss-making retail chain.

CEC’s share price had more than doubled to a 21-month high at HK$1.04 on August 20 as brokers speculated the company might become a takeover target following the death of founding chairman Coils Lam Wai-chun the previous day.