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ST Group Food Industries Holdings Limited ( (SG:DRX) ) has shared an update.
ST Group Food Industries Holdings Limited has announced the proposed creditors’ voluntary liquidation of its indirect subsidiary, GCTea Ltd, in the UK. This decision is part of the company’s strategic plan to exit the Gong Cha brand in the UK, as it is no longer viable for GCTea to continue operations. Additionally, a general meeting for GCTea Outlets 2B Ltd is scheduled to seek approval for its liquidation, with Mark Weekes and Paul Stanley nominated as joint liquidators. These developments indicate a strategic shift in the company’s operations and may impact stakeholders involved with the Gong Cha brand in the UK.
More about ST Group Food Industries Holdings Limited
ST Group Food Industries Holdings Limited operates within the food and beverage industry, primarily focusing on trading and managing sub-franchisees for brands such as Gong Cha in the UK. The company holds a significant interest in its subsidiaries through direct and indirect ownership.
Average Trading Volume: 318,600
Technical Sentiment Signal: Buy
Current Market Cap: S$36.62M
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