Taste liquidates Domino’s in SA
Taste Holdings has announced the liquidation of Domino’s Pizza in South Africa.
“In line with Taste’s revised strategy the board engaged with several suitors in order to dispose of the Domino’s business. Domino’s Pizza LLC (“DP”) provided financial support and assistance during this period. Unfortunately, a deal could not be concluded on terms acceptable to all parties and further financial support was not provided by DP. As a result, it was decided to place the respective entities into voluntary liquidation.”
As a result, Taste Holdings will fully impair the remaining inter-company loans to the value of approximately R450m.