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Companies

Flight-themed capsule hotel in Japan seeks bankruptcy protection

Lodging and restaurant operators risk exhausting cash in six months, report says

First Cabin put an upscale touch on capsule hotels. (Photo from company's Facebook account)

TOKYO -- Japanese capsule hotel operator First Cabin filed for bankruptcy protection Friday as the coronavirus pandemic hits an industry already struggling with surplus capacity.

The company operated about 25 hotels with aviation-themed rooms classified as first, business and economy class. Around 400 workers, including part-time staff, were let go. First Cabin and four affiliates carried 1.1 billion yen ($10.2 million) in liabilities upon filing with the Tokyo District Court.

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