Online, the restaurant is listed as"permanently closed."
Hometown International was previously headed by Paul Morina, a Paulsboro high school principal and wrestling coach in Paulsboro. The company drew widespread public attention in April 2021 when the hedge fund manager David Einhorn in a client letter noted the disparity between the deli's decidedly modest sales and Hometown's sky-high stock market valuation.Makamer Holdings said it is now focused on making biodegradable resins to replace existing petroleum-based plastics.
For the three months ended June 30, the company reported a net loss of $9 million, which it attributed to the closing of the deli and the transition to bioplastics. was a sale of 300 shares for $9 per share on July 22. The company has a market capitalization of $327 million at that share price.