Grand Parade Investments compelled to sell Burger King South Africa to save its cash flow
Unbridled expansion, a lack of profitability and point of sale closures have marked the diversification of Grand Parade’s investments beyond the gaming sector and have finally forced the South African company to sell its largest holding in the food and beverage industry in an attempt to turn around its finances.
11/12/2019 at 15h32, by Africa Business+
Grand Parade Investments Limited (GPI), the black empowerment company set up in 1997 to enable deprived Cape Town communities to invest in the gaming sector, has entered into negotiations for the sale of “a large part” of its 91% stake in Burger King South Africa.
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