Sales slump may signal the end for Sizzler

As Sizzler Australia’s revenue continued to decline, Collins Foods now regards the brand to be “non-core” to strategic growth.

Collins Foods CEO Graham Maxwell said, “After careful consideration and due to the year on year under performance of the Sizzler Australia business, we no longer consider Sizzler to be a strategic growth prospect in Australia and therefore we will not be investing further capital into Sizzler Australia.”

“We believe this is a necessary course of action in order to pursue more attractive growth opportunities."

Sizzler sales fell 8.5% to $88.5m in FY15 in Collins Foods’ latest financial report.

Collins Foods further stated that throughout FY16 a number of Sizzler restaurants will be closed and remaining restaurants will be closely monitored with appropriate action taken as and when necessary.

Despite this, Sizzler Australia is still forecasted to generate a positive EBITDA contribution in FY16.

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