What’s new: Missfresh Ltd., once a frontrunner in China’s booming online grocery industry, faces nearly 1,400 lawsuits by former employees and suppliers demanding nearly 813 million yuan ($115 million), the company’s belated 2021 financial report showed.
Nasdaq-traded Missfresh, which shuttered its mainstay instant-delivery retail business in July, has only 55 employees left, according to the report. The company had 1,925 employees at the end of 2021 and reduced the workforce to around 100 in July.
