ABS-CBN Corp. is set to shut down the operation of KidZania Manila by end of August this year due to the massive impact of the coronavirus pandemic on the business.
In a statement, ABS-CBN said unit Play Innovations Inc. has decided to cease the operation of KidZania effective August 31 after being in the business for five years.
With the outbreak of the coronavirus disease 2019, KidZania suspended its operations to prevent the further spread of the virus, resulting in a massive impact on its revenues.
“Even if we are allowed to operate in the future, the ‘new normal’ will prohibit mass gathering and require children to remain at home. These conditions have left us with no choice but to close the play city’s doors permanently,” ABS-CBN said.
ABS-CBN said it is paying out severance benefits as mandated by law and providing job placement programs for the affected employees.
Following the non-renewal of its congressional franchise, ABS-CBN announced it is laying off a significant number of its workforce effective August 31.
ABS-CBN said it was forced to cease the operations of some of its businesses and implement a retrenchment program covering the company and its subsidiaries.
