The economic crisis has taken its toll on yet another Lebanese food business. Some popular restaurants and eateries have already closed, but no one would have thought that the iconic Abou Arab would have to see this day.
In a statement, Abou Arab’s management announced that it will be closing all of its branches across Lebanon. The famous Kaak bakery loved by millions can no longer withstand its economic difficulties.
The statement adds that since the beginning of the crisis, the dollar rose by 300% and the prices in the market doubled.
Despite this, Abou Arab refused to drastically raise its prices on the Lebanese people, increasing only 500 L.L. to the original price 1,000 L.L.
The company, which endured the price differences in order to continue catering to people of all economic backgrounds, either rich or poor, can no longer continue.
The statement closed by apologizing to the public saying that Abou Arab branches will be closed until further notice and wished for better days.