After waves of job cuts and aborted expansion plans, Chinese online grocery company Missfresh Ltd. has announced it will suspend its mainstay instant-delivery retail business, which accounts for 85% of its revenue, after failing to secure a financial lifeline amid widening losses. The Nasdaq-listed firm, which this week abruptly sacked most of its workforce, said it took the action “for sustainability.” Missfresh is thought to owe its suppliers more than 1 billion yuan in unpaid debts.