Allan K decided to declare bankruptcy and close his comedy bars, the Klownz and Zirkoh.
It’s no secret that major bankruptcy practices are ramping up for a historic rise battered by the C0V1D-19 pandemic.
Pandemic motivated closures and stalling demand left many prominent retailers and businessmen looking for ways to preserve cash.
Some stopped paying rent. Others furloughed workers, cut executive pay, and canceled orders for new inventory.
In fact, many business have already closed due to losses.
Many companies and businesses are struggling right now. Many employees are also worried about the possibility of losing their job and source of income amid the cr1sis.
One of the Filipino celebrities who run a business is Kapuso television host and comedian Allan K. He has two (2) comedy bars – the Klownz in Quezon Avenue and Zirkoh in Tomas Morato Avenue.
Based on a report on Pep, the “Klownz” has operated for 18 years now. The “Zirkoh” has operated for 16 years now and both have a lot of staff.
Sadly, both the Klownz and Zirkoh are struggling now amid the COVID-19 pandemic. According to the report, the losses and the uncertainty of the situation now urged Allan K to decide to declare bankruptcy and close the comedy bars.
Allan K and Lito Alejandria, the general manager of Zirkoh, met with the staff of the comedy bars and announced the sad news. via letter.
Some of the letter’s content stated:
“We can only offer the following compensations:
“2.13th Month Pay (Prorata)
“3.Cash assistance from the company.
“You are no longer required to work on July 29, 2020.
“Thank you and we appreciate the service you have rendered to the company.”
The closure is effective July 29, 2020.
Allan expressed his gratitude to all the comedy bars staff.