‘We will chase them down’: Debt collectors pursue claims exceeding $2m linked to Lao Huo Tang
Both agencies said their attempts to recover the alleged debts had been challenging.
On Nov 12, debt collectors from FDR Services and A.S.K Debt Recovery visited Le Xin Mixed Veg Rice in Bedok Reservoir Road, a mixed rice stall formerly linked to the Lao Huo Tang restaurant chain. The collectors pursued unpaid claims, totaling $550,795.58 from FDR Services and approaching $2 million from A.S.K Debt Recovery, according to the agencies.
The claims involved various businesses associated with Lao Huo Tang Group, including Lao Huo Tang Investments, Singapura Heritage Food Hall, and other food brands operated by Thomas Hong, the founder and CEO of Lao Huo Tang Group. Hong is a director of several food and beverage businesses, as well as a shareholder of Lao Huo Tang Investments.
Upon their arrival, the collectors encountered an elderly man believed to be Hong's father, who declined to assist and instead contacted the police. The collectors left a notice at the premises and have since attempted to recover the debts by visiting restaurants, food stalls, and registered business addresses. However, their efforts have been challenging, as some employees were unavailable, unaware of invoice payments, or claimed to be victims of delayed salaries.
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