We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Small fast-food and restaurant franchise company Gold Brands is expanding its Chesanyama division to the UK, while local branches will get facelifts. Despite sales declining by more than two-thirds in the six months to end-August, the group reported it would launch Chesanyama UK in the first quarter of 2018. On Thursday, Gold Brands reported revenue dropped by 72.6% to R27m because of a slowdown in the economy as well as management’s restructuring of Gold Brands’ portfolio, internal restructuring of management’s supply chain to further reduce risks and relocating its remodelled Chesanyama stores into higher demographical areas. While the group suffered losses from the closure of a number of stores due to lease expiry, it reopened 12 stores. CEO Efpraxia Nathanael said there had been an upswing at new store sales in the time after the reporting period, “bringing the total number of operating franchisees to 190”. In 2018, Gold Brands plans to upgrade its local Chesanyama stores by giv...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now

Would you like to comment on this article?
Register (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.

Commenting is subject to our house rules.