ASIC won't take action after RFG investigation

ASIC won't take action after RFG investigation

The Australian Securities and Investments Commission (ASIC) has notified Retail Food Group (ASX: RFG) it will not be taking any enforcement action in relation to two concluded investigations of the franchise operator. RFG shares are up 5.88 per cent this morning at $0.072 following the news, but a note from RFG clarifies no inference shou...

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Retail Food Group sees customers return, but permanent closures inevitable

Retail Food Group sees customers return, but permanent closures inevitable

Retail Food Group (ASX: RFG), the owner of Gloria Jean's Coffees, Brumby's Bakeries, Donut King, Michel's Patisserie and others, has observed an increase of customers returning to its outlets as COVID-19 restrictions ease across most of the country.  However, the pandemic has sped up the permanent closure of a number of i...

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Retail Food Group frustrated by lack of landlord compassion

Retail Food Group frustrated by lack of landlord compassion

Retail Food Group (ASX: RFG) has come out swinging against its commercial landlords claiming an inherent power imbalance makes the process of negotiating rent relief impossible. According to RFG executive chairman Peter George the company is frustrated by the lack of progress when dealing with landlords and the unwillingness he has seen f...

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Retail Food Group cuts working hours, stands down staff

Retail Food Group cuts working hours, stands down staff

A strong performance from bakeries and pizza stores has not been enough to prop up the franchise network of Retail Food Group (ASX: RFG) from depressed sales due to Covid-19. The company announced this morning it would be consulting with personnel to either stand down or reduce the working hours of the majority of staff. RFG note...

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Guidance withdrawal update: Cleanaway, Cardno, GWA, Bapcor

Guidance withdrawal update: Cleanaway, Cardno, GWA, Bapcor

Cleanaway Waste Management (ASX: CWY), bathroom and kitchen fixture distributor GWA Group (ASX: GWA) and engineering outfit Cardno (ASX: CDD) are among the major companies to withdraw earnings guidance today due to uncertain market conditions with Covid-19. Other companies that withdrew guidance today include Seven West Media (ASX: SWM),&...

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Bread and pizza bring in more dough for Retail Food Group

Bread and pizza bring in more dough for Retail Food Group

The Covid-19 pandemic has led to mixed results across Retail Food Group's (ASX: RFG) different businesses, with positive signs over the past fortnight for Crust and Pizza Capers stores, bakery franchise Brumby's, and Di Bella Coffee's e-commerce and grocery divisions. On the flipside, limitations on restaurants and café...

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Retail Food Group upsizes capital raise

Retail Food Group upsizes capital raise

Embattled food franchisor behind brands like Donut King, Michel's Patisserie, and Gloria Jean's, Retail Food Group (ASX: RFG) has boosted its capital raise to recapitalise the company. Initially, RFG intended to raise $150 million from a fully underwritten placement in order to repay debt, plus an extra $10 million from a share pu...

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Retail Food Group to raise $150 million

Retail Food Group to raise $150 million

Embattled food franchisor behind brands like Gloria Jean's, Donut King, and Michel's Patisserie, Retail Food Group (ASX: RFG) has launched a capital raise to secure $150 million. The funds are part of the group's recapitalisation plans, with $118.5 million of proceeds from the offer to go toward repayment of debt. As part ...

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Brand write-downs and restructuring drive $149m loss for Retail Food Group

Brand write-downs and restructuring drive $149m loss for Retail Food Group

Store closures and a heavy FY19 loss capture the tone of a challenging year for Retail Food Group (ASX: RFG), a franchisor that is finetuning its focus against a backdrop of significant asset impairments and restructuring costs. Brands are everything in the food business, particularly if brand IP is a key part of your model like RFG ...

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ACCC review slams food franchisors for failing franchisees

ACCC review slams food franchisors for failing franchisees

Food franchisors are yet again in the spotlight for their failings as the Australia Competition and Consumer Commission (ACCC) releases its latest review into the sector. The watchdog found that franchisors in the food services sector are providing inadequate information to potential franchisees. The report, Disclosure practices in fo...

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