Shanghai Supermarket Chain Goes Bust As Business Slows

What’s new: Supermarket chain CityShop has closed all of its stores after nearly 30-years doing business in Shanghai, underscoring the struggles many brick-and-mortar retailers face with weakening consumption.

CityShop, a high-end supermarket chain, closed its final two stores last week and said it was entering liquidation, citing operational difficulties and failure of a self-rescue attempt. The company’s online store has also stopped operations.