China’s online grocery delivery market, once fiercely competitive between big tech companies and startups, has taken a hit as companies grapple with persistent losses and cash shortages, compounded by economic slowdown and stricter regulations.
Missfresh one of China’s leading grocery delivery companies said last week that stopped its main activity same day delivery of products. Hundreds of employees, who make up the majority of Missfresh’s workforce, lost their jobs, according to the employees who were laid off. Missfresh has also faced protests from its unpaid suppliers at its headquarters in Beijing and elsewhere in recent weeks as it ran out of money to pay them, according to former employees and suppliers.
