Hometown Deli, Paulsboro, NJ
Mike Calia | CNBC
The small loss-making New Jersey junk food store that was once the only property of a publicly traded company with an odd market capitalization of $100 million sold and closed. according to a specified record.
Your Hometown Deli in Paulsboro, New Jersey, was “temporarily closed” on June 19 while its management looked for a new buyer, Makamer Holdings said in a filing with the Securities and Exchange Commission.
On July 1, Makamer sold the store’s remaining inventory for $700. And then on August 9, the company “liquidated its subsidiary Your Hometown Deli, LLC for $15,000, including $5,000 payable in cash and $10,000 in receivables,” the filing said. know.
Makamer, a bioplastics startup, has merged with snack shop owner, Hometown International, this early year.
“After a thorough assessment of its prospects, the Company’s new management has decided to sell Your Hometown Deli and its assets and focus on Makamer’s business as the Company’s business in the future,” the regulatory filing said.
It said: “The fine-dining restaurant ceased operations after the merger.
The phone number of the new, delicious food shop $25,004 revenue in 2021was down on Monday as CNBC called it.
Online, the restaurant is listed as “permanently closed.”
Hometown International was formerly headed by Paul Morina, Paulsboro High School principal and Paulsboro wrestling coach.
The company gained widespread public attention in April 2021 when hedge fund manager David Einhorn in a letter to clients noted the disparity between modest sales and market valuations. Hometown’s sky-high stock.
“Pastrami must be great,” Einhorn cracked the key in that letter.
Makamer Holdings said it is currently focusing on the production of biodegradable plastics to replace existing petroleum-based plastics.
For the three months ended June 30, the company reported a net loss of $9 million, which it attributed to deli store closures and a switch to bioplastics.
Last publicly known transaction of Makamer . stock was a sale of 300 shares at $9 per share on July 22. The company has a market capitalization of $327 million at that share price.
