BEIJING –
In a dilapidated warehouse on the outskirts of the Chinese capital, businessman An Dawei inspected rows of giant fridges, industrial hobs and commercial bread ovens waiting to be resold to dining establishments.
“For the average person, opening a restaurant is almost a guaranteed failure,” said the 38-year-old who sells used kitchen equipment.
Behind every appliance is the tale of a failed Beijing restaurant, set up by those who often bet their life savings on a V-shaped economic recovery after the COVID-19 pandemic, only to see consumers skimp on eating out as China’s economy slowed.
