China Shutters More than One Million Restaurants as Economy Withers
Kang An Ge, The economic downturn has led Chinese consumers to turn to cheaper takeaway meals rather than dining in the most budget-friendly restaurants, leading to the closure of more than one million restaurants since the start of 2024, according to China's catering industry news service. Radio Free Asia (RFA) Drilled a hole Reviewing the […]
Ghost kitchen company once valued at $1B pivots to grocery delivery as food-prep business withers
The unicorn, which has opened hundreds of pandemic-era “ghost kitchens” across the country, plans to lay off more than 50 employees in the New York City area and shift to grocery delivery as the meal-prepared model sees a steep decline. Leaf Technology, a SoftBank-backed company that was once valued at $1 billion, filed a WARN […]
Ghost kitchen company once valued at $1B pivots to grocery delivery as food-prep business withers
The unicorn, which has opened hundreds of pandemic-era “ghost kitchens” across the country, plans to lay off more than 50 employees in the New York City area and shift to grocery delivery as the meal-prepared model sees a steep decline. Leaf Technology, a SoftBank-backed company that was once valued at $1 billion, filed a WARN […]