Reported 7 months ago
The well-known Chinese chain store 'Darunfa' is facing a wave of closures in China, with 20 stores shutting down within a year, resulting in a record loss of 7.2 billion and the layoff of 20,000 employees. This closure trend has sparked concerns about its operational problems and financial difficulties, as the parent company, Gaoxin Retail, reports a significant revenue drop and the need to restructure its operations.
Source: YAHOO