News Aori Ramen Cuts Ties With Seungri/Yuri Holdings (1 Viewer)

[JakeyWantsCakey]

Aori Ramen Franchise Cuts Ties With Seungri And Yuri Holdings

Mar 14, 2019
by C. Hong
Seungri’s former ramen restaurant franchise has cut ties with him and Yuri Holdings.
On March 14, Aori Ramen’s company, Aori FNB, released a statement via their official Instagram. The statement read:​

Hello, this is Aori Ramen’s company, Aori FNB.
To all the customers and store-owners who kept their faith in Aori Ramen throughout the recent series of events, we would first like to apologize for causing you concern.
Our head office has been reorganizing after Lee Seung Hyun (Seungri) stepped down from his CEO position due to his upcoming military enlistment. To ensure the stable business of our franchise stores, we hired a new management specialist and on March 7 we held a planning meeting with the store-owners and offered them compensation. Depending on the situation, we intend to offer further compensation to the store-owners later on.
In order to protect the brand of our franchise stores and Aori Ramen, we have decided to cut all ties with Seungri and Yuri Holdings and make a fresh start. We are currently in discussions to transfer management rights to a new partner who is knowledgeable about the food and beverage industry and can provide good leadership to our franchise stores.
The 43 Aori Ramen franchise stores are not all owned by our former CEO’s acquaintances and family. In order to minimize damages to the other stores, we have decided to close the stores that do have a connection to him.
Because of the extreme news, stores that have worked hard and have no connection to the news are suffering damages. Aori Ramen’s head office will do our best to make sure to minimize damages to those hardworking, innocent franchise store-owners.
We ask once again for the understanding of all the customers who have loved Aori Ramen and we will continue to work to improve our taste and quality.​

On March 14, Seungri went to the police station for his second round of questioning in the investigation into whether he violated the law on the punishment of prostitution mediation.
​

 

[Suzy]

Owners of companies can be kicked out? I know nothing about business at all so I always just assumed that the owner/CEO or whatever else they're called stay in position unless they themselves decide to leave. I also thought they were the ones making all the decisions and rules themselves. Unless it was co-owned. Does this mean he won't be making any money off of his ramen franchise at all or will he still be making money but just not having any power over how it's run?

EDIT: I just saw that he stepped down himself. So that means he's completely disassociated from the franchise and wont ever be making money from it again right? Even though he was the one who started the business?

 

[JakeyWantsCakey]

Owners of companies can be kicked out? I know nothing about business at all so I always just assumed that the owner/CEO or whatever else they're called stay in position unless they themselves decide to leave. I also thought they were the ones making all the decisions and rules themselves. Unless it was co-owned. Does this mean he won't be making any money off of his ramen franchise at all or will he still be making money but just not having any power over how it's run?

Well, when there is a big company like Aori Ramen, the board of directers (basically all the higher ups) can give a vote of no confidence and basically fire whoever is in charge but I also think they got kinda lucky with the timing of all this because Seungri already had to step down from all of his positions before he enlisted and I assume that made this easier for them...

 

[JakeyWantsCakey]

@Ozymandias @blueberries @Jichuus @KookievsCookie @Queen @taemkitten @Abeamus @BritishLuvie @notthatmarko @RandAlThor @KwonSoonYoung @yerewenseuljoy @Dopamine @Hana @Golden_Wishes @lalaloveloona @JungYoda

 

[Darkyoda47]

Apparently, people aren't going to Aori Ramen because of the scandal. Business has been extremely bad this past week.

 

[HaveSomeKookies]

Owners of companies can be kicked out? I know nothing about business at all so I always just assumed that the owner/CEO or whatever else they're called stay in position unless they themselves decide to leave. I also thought they were the ones making all the decisions and rules themselves. Unless it was co-owned.

Not really knowing much either, but...
Shareholders can. Plus, "Aori FNB" seems to be the parent company of "Aori Ramen" and parent companies can always restructure their subsidiary companies. Even closing (ceasing operation) them if necessary.

 

[SeulPika]

Apparently, people aren't going to Aori Ramen because of the scandal. Business has been extremely bad this past week.

I feel sorry for all of the floor employees who will be affected by this.

 

[yeji]

well this would have happened sooner or later. no suprise here

 

[JakeyWantsCakey]

I feel sorry for all of the floor employees who will be affected by this.

Same. That's why I wanted to share the article, it'd be a shame if a bunch of innocent people lost their jobs because of these scumbags!

 

[blueberries]

Owners of companies can be kicked out? I know nothing about business at all so I always just assumed that the owner/CEO or whatever else they're called stay in position unless they themselves decide to leave. I also thought they were the ones making all the decisions and rules themselves. Unless it was co-owned. Does this mean he won't be making any money off of his ramen franchise at all or will he still be making money but just not having any power over how it's run?

EDIT: I just saw that he stepped down himself. So that means he's completely disassociated from the franchise and wont ever be making money from it again right? Even though he was the one who started the business?

It was co-owned I think, Seungri and i think it was restraurant couple idk didn't find source now too tired to look for it founded it together. Seungri was CEO it seems and promoted it as celebrity, couple probably handled the restaurant side more.

I think they can kick him off if there is enough votes in board. Since Aori Ramen has over 50 stores across several East and South-East Asian countries Seungri's scandal has affected business by many restrautant keepers and their staff. So this is pretty wise for them, to try to detach themselves from him.

I don't think they can just throw out his stocks though unless they can forcibly buy him out?

 

[Abeamus]

Hopefully they are serious about their actions and aren't just talking to look good.

 

[JakeyWantsCakey]

Hopefully they are serious about their actions and aren't just talking to look good.

Oh, I think they're definitely being serious! I just feel sorry for all of the innocent restaurant owners that are losing business and all of the staff members that work in the locations that are owned by Seungri and his family/friends because they're about to lose their jobs...

 

[Abeamus]

Oh, I think they're definitely being serious! I just feel sorry for all of the innocent restaurant owners that are losing business and all of the staff members that work in the locations that are owned by Seungri and his family/friends because they're about to lose their jobs...

It'd definitely suck if they go under because of Seungris selfishness but if business doesn't turn around after this they could try to reach out to Hwasa since people seem to really love what Hwasa eats.

 

[Carlshutup]

That's why you should never attach a celebrities for your business company

 

[Moonbinlove]

I feel bad for the innocent employees that are about lost their job but it had to be done I doubt anybody went to the restaurant after hearing about the scandal

 

[QueenB]

I feel bad for the employees

Good on the company cutting ties

 

[joshuaology]

I thought that they'd also cut ties with SNSD Yuri and I was going to throw hands

 

[Darkseid]

Owners of companies can be kicked out? I know nothing about business at all so I always just assumed that the owner/CEO or whatever else they're called stay in position unless they themselves decide to leave. I also thought they were the ones making all the decisions and rules themselves. Unless it was co-owned. Does this mean he won't be making any money off of his ramen franchise at all or will he still be making money but just not having any power over how it's run?

EDIT: I just saw that he stepped down himself. So that means he's completely disassociated from the franchise and wont ever be making money from it again right? Even though he was the one who started the business?

Well I think he didnt own it, their parent company was Aori FNB. Seungri was the CEO and CEO can be ousted from their position by the rest of the Board members.
It's like how Steve Jobs was kicked out of Apple once despite him founding the company. There were calls to remove Elon Musk from Tesla too.