As a former employee and a shareholder of Oliver’s, I would like...

As a former employee and a shareholder of Oliver’s, I would like to believe that a turnaround will happen, but I am not holding my breath.

as others have pointed out, just closing an under performing store, doesn’t solve all the problems associated with that store, rent/lease will still need to be paid, associated shutdown costs, writing off of the fitout, recovery of ovens, POS terminals, computers etc.

what I find interesting now, is the message in the announcement, that in effect say, we are blaming the former management for much of what is happening. They can only use that for so long.