Domino’s finally fall in SA as group loses its taste for fast foods
The closure of the pizza chain affects 770 employees, and 55 corporate stores have been closed immediately
Taste Holdings, which is shifting its focus from fast foods to luxury goods, is liquidating the subsidiary that holds the licence for Domino’s SA after failing to find a buyer for the pizza chain.
A deal could not be concluded on terms acceptable to the parties during talks with several parties, and Domino’s Pizza International is not providing additional financial support, the group said on Monday.
Due to the voluntary liquidation, the group had written off inter-company loans to the value of R450m...