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...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.
Source: News Formal (newsformal.com)
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