Matt Levine’s Money Stuff: The Deli Was Allegedly a Fraud

The deli

The more I learn about the deli, the less I understand it. The deli is (was) of course Your Hometown Deli, a deli in Paulsboro, New Jersey, that opened in 2015 and closed this August. During most of its seven-year run, Your Hometown Deli was also the only business of a US public company called Hometown International Inc., which means among (many) other things that you can read its financial statements online. It had annual revenue that got as high as $76,213 in 2016 (dollars in dollars) and as low as $13,976 in 2020 (“The Company ...