The previous management sold franchise license to anyone as they expanded too quickly saturating the market with it's brand. They needed to get it down to an optimal number for the market and looking at the Investor Presentation, the one that remain are the strong franchisee. This big cut had to happen to recover the brand asset and if that happens, then naturally there will be more stores. You can't attract new stores if your brand isn't good.
Ann: Trading Halt, page-111
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