Is this famous North Shore restaurant closing?

Recent rumors have been speculating that the famous Kowloon restaurant in Saugus will be closing after recently celebrating their 70th year in business. The family owned and operated establishment took to twitter last night stating:

Good news for now is that you can still enjoy the famous Saugus Wings and some delicious mai tais, but we will have to wait and see what the future holds for this legendary Route 1 business.