Jolliville denies it shut down Pegasus, Heartbeat, Air Force One

Listed Jolliville Holdings Corp. on Wednesday refuted a report that its chairman and founder has shut down entertainment clubs leasing facilities from the company due to the impact of COVID-19 to its business.

Jolliville made the denial in a disclosure to the Philippine Stock Exchange.

“We would like to clarify that the above statements are false and contradictory to an accurate statement found in the latter portion of the same article,” the company said.

Jollivile said it “leases and rents out certain assets to a number of independent business entities involved in the operation and management of KTV entertainment or recreation centers in Metro Manila area.”

“We hope this clarifies the misinformation as stated in the above article,” it said.

Citing sources, Manila Standard earlier reported that employees of several high-end entertainment clubs such as Pegasus Ultimate Men’s Club and Heartbeat Mega KTV in Quezon City, and Air Force One in Parañaque City have received separation pay from Jolly Ting, the chairman and chief executive of Jolliville.

The report, likewise, said that “supervisors and employees of the KTV bars owned by Jolliville or the Ting family were informed that the clubs would no longer resume operations because of the huge impact of the health crisis.”

The link for the article is no longer available, as of this posting.

Upon the start of the Luzon-wide enhanced community quarantine mid-March, Jolliville disclosed that “some lessees’ businesses are affected by the COVID-19 situation and some have decided to reduce operating hours or close temporarily.”

“While the lessees pay rent on a monthly basis under a yearly contract, it is possible that their capacity to pay in full or on time may be compromised by the current situation,” the company said in a March 16, 2020 PSE filling.

Jolliville is involved in leasing, management services, property development, land banking, local waterworks system, business process outsourcing, and power generation.

In 2017, the company scored a victory against fast-food giant Jollibee Foods Corp. in a long-running trademark case.

Jolliville argued that the use of "Jolli" was a tribute to its founder Jolly L. Ting and that Jollibee cannot claim exclusive and immediate association of 'Jolli' or 'Jolly' as there are several other registered corporations and trademarks that use the same name.—AOL, GMA News