TRADING LOSS
Famous Brands eateries hit hard by stayaway
The company expects a revival in consumer spending will be slow due to the weak economy
31 May 2021 - 23:48
UPDATED 01 June 2021 - 16:17
Famous Brands, owner of Steers and Wimpy ran at a loss in its year to end-February, after restaurants across the globe were shut during the Covid-19 lockdowns, with consumers staying away even after restrictions were eased.
The company also impaired about R1.3bn, essentially recording that amount in losses in future earnings and brand value in the UK after its hamburger chain Gourmet Burger Kitchen went into a form of business rescue and was sold...
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