(MENAFN) Australia's Collins Foods recorded a loss of about USD10.4 million for the year to March, compared with a USD14 million profit in logged in the corresponding period last year, Brisbane Times reported.
As a result, the company will have to shut some of its Sizzler restaurants across the country. The owner of KFC is currently looming in the red zone after a USD37.5 million write-down to the goodwill of its Sizzler brand.
"Remaining restaurants will be closely monitored with appropriate action taken as and when necessary," Collins Foods' corporate statement said.
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