Virus could spur buyout appetite for Chinese food

Jiumaojiu International Holdings

17/02/2020 02:14

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are his own.)
    By Alec Macfarlane
    HONG KONG, Feb 17 (Reuters Breakingviews) - McDonald’s and
Haidilao have closed stores as the epidemic spreads. They can
weather the storm, but other big local chains are running low on
cash. Until now, China’s $717 bln restaurant sector and private
equity have remained wary of each other. That may be about to
change.
    Full view will be published shortly.
    On Twitter https://twitter.com/AlecMac11
    
    CONTEXT NEWS
    - Fast-food giant McDonald’s closed several hundred of its
roughly 3,300 outlets in China, Reuters reported on Feb. 5,
while Chinese hotpot chain Haidilao announced the suspension of
its restaurants in the country until further notice. 
    - Starbucks also closed over half its roughly 4,300 stores
on the mainland and delayed a planned update to its 2020
earnings forecast, the report added. Furniture chain IKEA also
closed its stores in China, and Burger King closed some
restaurants.
    - For previous columns by the author, Reuters customers can
click on  MAC/ 
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 (Editing by Pete Sweeney and Katrina Hamlin)
 ((alec.macfarlane@thomsonreuters.com; Reuters Messaging:
alec.macfarlane.thomsonreuters.com@reuters.net))