China bubble tea chain Mixue shuts more stores as growth model falters

The sudden closure of Mixue's first store in Hong Kong in early October drew widespread attention after about three years of operation in Mong Kok, one of the busiest shopping and entertainment districts. (Photo by Shugo Yamada) HONG KONG — Cracks are beginning to appear in the growth story of Mixue Group, the Chinese bubble tea company that built the world's largest food and drink chain and now owns more outlets worldwide than either Starbucks or McDonald's.

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