Dumpling Chain Din Tai Fung to Close China Outlets Amid Weak Consumer Spending

(Bloomberg) — Taiwan dumpling chain Din Tai Fung will close more than a dozen stores in the Chinese mainland, a market that’s seen a brutal price war among restaurants to lure increasingly frugal Chinese consumers.

Beijing Hengtai Feng Catering Co. will shutter 14 of its more than 30 stores in the country, including in the capital Beijing, Tianjin, Qingdao, Xi’an and Xiamen by Oct. 31, the company said in a WeChat statement. The decision was attributed to the expiration of business license and the board’s disagreement over renewal.