BreadTalk outlets to close from March 20

R I L Property PLC said the director board of its wholly owned subsidiary FoodBuzz (Pvt) Ltd. has decided to close all BreadTalk outlets from March 20, 2021 until further notice.

The decision was taken due to adverse market conditions stemming from the Easter attacks as well as the ongoing pandemic. BreadTalk, the Singapore-based franchise, was first introduced to Sri Lanka by FoodBuzz in 2021. There are 10 BreadTalk outlets in Sri Lanka as of now. As per the interim financial accounts filed with the Colombo Stock Exchange, BreadTalks’s revenue halved to Rs.126.4 million during the nine-month period ended December 31, 2020 from Rs.317.3 million a year ago, and the net loss for the period widened to Rs.86.2 million from Rs.47.8 million.