I still think the odd 450 outlets closure is still too little (I suspect a few more hundred will be closed in H2) and I am more so looking at stability of the business by improving the profitability of their good franchisee, recover their intangible brand assets allowing the pps to recover to at least $1 to do a decent CR, not new growth......if they survive, I think their plan is to recover and focus on their good franchisee in the next year, do a CR to manage their debt and then start to go through the new franchisee expansion (slowly this time) in 2-3 years time.
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