Business-starved high-end restaurants seek new profit staples

The world was stunned when Chinese luxury-restaurant chain Cloud Live Technology Group Co said it was short of 240.6 million yuan ($38.8 million) needed to pay back the 400 million yuan of debt it incurred three years ago.

The company, previously known as Xiang'eqing, became the first to default on domestic debt in China's stock market history.

But some insiders contend this does not portend hard times.