Zomato, the Indian foodtech giant, has initiated the liquidation of its Czech Republic-based subsidiary, Lunchtime, as of September 1, 2023. The subsidiary, Lunchtime.cz, was non-operational with no active business and contributed zero to Zomato's net worth, valued at approximately INR 28.2 lakhs. This move is part of Zomato's broader strategy to shutter underperforming international subsidiaries and focus on its core markets in India and the UAE. The company has been closing similar non-operational units in countries like Indonesia, Portugal, Jordan, and the Philippines this year, aiming to streamline operations and improve profitability.
