Jubilant FoodWorks Ltd, which operates fast-food chains Domino’s Pizza and Dunkin’ Donuts, closed a total of 105 stores in the July-September quarter, the company said.
According to a PTI report: It has closed 100 stores of Domino’s Pizza in the second quarter of this fiscal, bringing it down to 1,264 stores. However, it also opened 10 new stores of Domino’s Pizza and ventured into a new city as well but its operations have been reduced to 281 cities as of September 30, 2020.
JFL has also closed five restaurants of Dunkin’ Donuts, bringing down the number down to 26 from 30 though it has opened one new restaurant, the company said in a regulatory filing.
“The group decided to close 105 stores during the quarter ended September 30, 2020 and accordingly the effect of the closure on property, plant and equipment by way of accelerated depreciation and de-recognition of rights of use assets and related lease liabilities have been considered in the financial results,” said JFL.