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Lifebrandz Ltd. ( (SG:1D3) ) has provided an update.
Autagco Ltd., through its subsidiary Superfood Kitchen Pte. Ltd., has decided to close its Superfood Kitchen outlet at Jurong Point Shopping Centre as part of a strategic review of its business operations. This decision comes after facing operational challenges such as high food and manpower costs, weak sales, and poor location visibility, which led to continued losses. The closure will result in one-off costs estimated at $11,000. The company plans to continue evaluating the viability of its other outlets and will make further announcements as necessary.
More about Lifebrandz Ltd.
Current Market Cap: S$5.21M
For an in-depth examination of 1D3 stock, go to TipRanks’ Overview page.