Guzman y Gomez Gives Up on Failing US Business; Shares Soar (opens in new tab)

(Bloomberg) -- Australian burrito chain Guzman y Gomez Ltd. is closing its Chicago restaurants immediately and exiting the US in an abrupt end to an attempt to crack the world’s biggest fast-food market. The company’s shares soared as investors welcomed the end of the capital drain.Most Read from BloombergBungie Plans Layoffs After Ending ‘Destiny 2’ DevelopmentSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaIran Says the US’s Latest Proposal Has ‘Narrowed the Gaps’Iran in Talks