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News: ORL Orotongroup enters into a binding agreement with Gap Inc

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    04/08/17
    09:35
    Post #: 26285262

    Aug 4 (Reuters) - Orotongroup Ltd (ORL)

    • Orotongroup has entered into a binding agreement with Gap Inc to discontinue Gap franchise business in Australia
    • Company is currently working through details of closure plan, it is too early to quantify financial impact
    • "This decision will end group's future investment in franchise, limiting related future losses"
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