# prepaid cards

Once a Fast-Growing Skewer Chain, Fengmao Faces Mass Closures After Ambitious Rebrand

Fengmao, a once-fast-growing Chinese skewer chain, has seen multiple store closures since December 2025 and employee reports of months-long unpaid wages in early 2026 after a controversial 2022 rebrand. The move from late-night street skewers to a pricier “meal-grade” positioning misaligned with consumer demand and regional tastes, exposing weaknesses in its standardized expansion model.