Sizzler's future in question despite Collins Foods' strong FY20
The company tagged the chain as the ‘most impacted’ in their portfolio.
The future of Sizzler in the Australian market is now uncertain after being tagged by its parent company as the ‘most impacted’ by the COVID-19 pandemic in their portfolio.
"Collins Foods continues to assess the non-core status of the Sizzler Australia business and closely monitor the pace of sales recovery,” chairman Robert Kaye said during their annual general meeting.
"Sizzler Asia royalties continue to grow, but due to the impact of COVID-19 on the China restaurants, a decision was made to exit that market, leaving 67 restaurants operating in Thailand and Japan,” he added.
The ASX-listed company reported a strong performance, saying its revenue was up 8.9% to $981.7 million, whilst praising the performances of its KFC and Taco Bell restaurants.
