Famous Brands, the owner of Wimpy, Debonairs, Steers and Mugg & Bean, has seen its share price register a marginal gain in the past year. The one-time darling of the market is finding it increasingly difficult to operate, forcing it to close stores in underperforming areas and exit some of its other brands. Speaking on the sidelines of the group AGM, Famous Brands CEO Darren Hele told Business Times: "We were clear that there would be a lot more abnormal closures than we are accustomed to . there were a couple of big chunks in there. There were some big store [closures] in Nigeria and the withdrawal from markets like Egypt, which saw the closure of five Bread Basket sites. "When you start to add those up they become big chunks and make the number look abnormal for the year." In the past year, Famous Brands closed 24 stores in its rest-of-Africa and Middle East region. In SA, the group closed 76 stores among its mainstay brands, including Wimpy, and 20 stores of niche brands, includi...

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