Taste Holdings completes its exit from the catering industry with the termination of its Domino’s franchise in South Africa
After four loss-making financial years, the decision to withdraw from an unprofitable sector to focus on luxury products will have a significant impact on consolidated turnover.
25/03/2020 at 16h45, by Africa Business+
In order to stem losses and after having failed to find a buyer, Taste Holdings Limited has made the decision to liquidate its subsidiary Taste Food Franchising Ltd, which operates the Domino’s Pizza franchise in South Africa. The inability to receive “additional financial assistance from the franchisor, Domino’s Pizza LLC” was also a factor that led the management of the Johannesburg Stock Exchange-listed group to abandon its efforts to sell the subsidiary on 16 March.
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