IN Dining’s abrupt departure left landlords with dilapidated premises and unpaid rent totaling billions of Vietnamese dong. Source: VTV9
In a 2023 interview, Ms. Nguyễn Thanh Hà Ngọc, CEO of IN Holdings, outlined her vision for IN Dining after acquiring 46 outlets across 18 brands from Nova F&B. The focus, she stated, was on targeting “high-end and fine-dining customers.”
VinaCapital expressed confidence in this strategy, believing it would enable IN Holdings to “operate efficiently and rapidly expand within the next 24 months.” The acquisition of prestigious international brands like JUMBO Seafood and Crystal Jade Palace further bolstered optimism for a promising future.
Many employees are owed back wages and social insurance contributions. Photo: VTV9
However, the reality of 2025 paints a starkly different picture. According to employee accounts on VTV9, staff across IN Dining’s restaurant network, including Dynasty House, Jumbo Seafood, and Crystal Jade Palace, are in dire straits due to prolonged wage arrears, some dating back to March 2025.
Mr. Hồ Vĩ Quyền, an employee, shared, “We’re still owed significant social insurance contributions—seven months in my case. Our primary wish is for the company to settle our wages and fulfill our insurance entitlements.” VTV9’s report also highlighted Mr. Bùi Kim Khánh, a landlord at 40 Xuân Thủy Street (Thu Duc City), who claimed IN Dining owed him over 3.5 billion dong in rent and left behind approximately 1 billion dong in unpaid taxes.
The challenges extend beyond unpaid wages and partner debts. Government records reveal unmet financial obligations. According to “Notice No. 3248/TB-TCS7” issued by HCMC Tax Department 7 on August 26, 2025, IN DINING Joint Stock Company (tax code 0313171652) is listed among tax defaulters, with outstanding liabilities of 1.99 billion dong as of July 31, 2025.
The “List of Entities Delinquent on Social Insurance Payments for 3 Months or More,” published by HCMC Social Insurance Agency as of August 31, 2025, names multiple key companies within the IN Dining ecosystem.
Specifically, the parent company, IN DINING Joint Stock Company, has delayed social insurance payments for 11 months, affecting 160 employees and totaling over 8 billion dong. Additionally, Crystal Jade Restaurant Co., Ltd. has accrued 16 months of arrears, amounting to more than 2.7 billion dong.
IN Dining’s operations are managed by IN Holdings, founded by twin brothers Nguyễn Hữu Phú and Nguyễn Hữu Quý. These entrepreneurs are renowned in HCMC’s high-end F&B sector, credited with the success of prominent venues like White Palace and GEM Center.
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