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21:08
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Originally posted by Galilee13
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Hi Cheapy, you have touched on a very interesting topic. The company has experienced a significant drop in store and franchisee numbers. Yes many closed due to unfavourable financial conditions, rents etc etc. Many would have closed due to wanting to get out of a franchise business when there agreements expired. Many people will say they expanded to quickly and opened stores for the sake of it. Many will be quick to point out that a large percentage of all small businesses fail in the first few years. Bottom line is store numbers have shrunk dramatically.
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"All the store currently open are old and dated", nice down-ramping there. And like I said, they need to recover their brands so new stores can open and with the SPP including a $76M debt write off and a new loan facility of $80M, they now have at least 4 years to do this.https://www.rfg.com.au/2019/10/14/gloria-jeans-sister-act-opens-fourth-queensland-store/
