Hostmore PLC (GB:MORE) has released an update.
Hostmore PLC is in the process of an all-share acquisition of TGI Fridays, aiming to transition to a fully franchised model and sell its corporate stores, a move that has already netted over $40 million. Despite a decline in like-for-like sales and experiencing a loss in EBITDA for the first half of 2024, Hostmore’s cost reduction program has led to operational improvements. The completion of the acquisition may be delayed beyond Q3 2024 as alternative financing is explored due to a revised business model.
For further insights into GB:MORE stock, check out TipRanks’ Stock Analysis page.
