Taste Holdings, owner of Starbucks and Domino's Pizza franchises in South Africa, said on Friday it was abandoning the food business, and had already sold its 13 stores of the coffee chain to a consortium for 7 million rand.
The company said it was also in discussions on the sale of Domino's and its two other food businesses, restaurant chain Maxi's and The Fish & Chips Co, as part of a new strategy to become a solely luxury retail group. It had been trying to turn its food business around after putting Starbucks and Domino's expansions on hold a year ago amid losses - making Taste one of a string of retail firms hurt by a troubled South African economy.
In a statement, it said that after months of canvassing potential partners and capital providers, it had become evident that the money required to fund its plan could not be secured with the current business structure and market conditions. "Taste's board of directors has therefore revisited the previous strategy and has decided that it is in the best interests of the Company and all stakeholders to exit the food business," the statement said.
Wow! Yet they were recruiting just a week ago. How does that work?
Why?
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Tough work ahead to fix the economy | Business | M&GFinMin Tito Mboweni considers the South African economy as being at the tail end of winter and at the beginning of spring, during which only hard work, discipline and consistency will result in fertile soil from which a fruitful harvest will emerge.
La source: mailandguardian - 🏆 2. / 92 Lire la suite »
Sasol executive pay to be linked to emissions? | Business | M&G
La source: mailandguardian - 🏆 2. / 92 Lire la suite »
Satawu demands minimum wage for security guards - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The South African Transport and Allied Workers Union (Satawu) has rejected the five per cent wage increase offer from companies in the private security sector. Come 7November if they don't us what we want then it will be very messy It's about damn time Yep 7 November kuzobonakala it's December thy must give security guards wht thy want or else criminals will be busy tht day
La source: SABC News Online - 🏆 32. / 51 Lire la suite »
IFP sends condolences to Nkabinde-Khawe family - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The IFP is the latest party to pay tribute to late Social Development MEC Thuliswa Nkabinde-Khawe describing her as a passionate person.
La source: SABC News Online - 🏆 32. / 51 Lire la suite »
UNHCR reaches impasse with foreign nationals - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The United Nations High Commissioner for Refugees in South Africa says it has reached an impasse with foreign nationals demanding to leave the country. The UNHCR has disputed claims by some that it is not assisting them. So they want to moved to another country? Why not back to their original countries? And who should move them as if RSA moved them here. We don’t have budget. Let them call Moody’s agency to move them. Unreasonable demands...
La source: SABC News Online - 🏆 32. / 51 Lire la suite »
Springboks thank South Africans for their support - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Springboks have sent a special message home thanking their fellow South Africans for their unwavering support during the Rugby World Cup tournament. They should thank the whole continent 😋 Is South Africa really changing as a nation? Bokke won the Ellis cup and the country unite RWC2019Champions Amazing... However, can we see the same happening in the bafana bafana team. Support, unity, and gees
La source: SABC News Online - 🏆 32. / 51 Lire la suite »