Sweetgreen (NYSE:SG), a notable player in the food industry, announced on July 1, 2024, that its sublease agreement with FPM Development has been voided.

The agreement, originally signed on April 30, 2024, was terminated due to FPM's failure to provide the necessary security deposit on time—a critical condition for the agreement's enforcement.

This development marks a significant turn in what was anticipated to be a fruitful partnership between the two entities.