The American fast-food large A&W seems set to shut all 26 branches in Thailand as the economic fallout of Covid-19 takes its toll. According to a Nation Thailand report, Global Consumer Plc, which owns the Thai franchise, is seeking board approval to shut all branches within the kingdom.
Global Consumer’s annual report reveals that final yr alone, A&W retailers in Thailand suffered losses of over 70 million baht. Multiple lockdowns and the altering behaviour of consumers are being blamed for the losses, with most branches located in buying centres that had been shuttered for a lot of the pandemic.
However, based on a Nation Thailand supply, there are three large food chains in talks with Global Consumer about buying the A&W franchise. The deal is thought to be value round 500 million baht and might be finalised this month.
Nest egg &W fast-food chain began life as a roadside shack within the city of Lodi, California in 2019. Its famous root beer was concocted for the first time on a hot canine cart throughout a parade. The shack became a restaurant in 1923, with the first department opening in Sacramento, and by 1926, A&W had shortly grown right into a franchise. The chain now has round 1,000 branches worldwide and opened its first Thai outlet in the Central Ladprao shopping mall in 1983.
In related information, mounting losses have driven the board of Global Consumer Plc to approve the sale of the two remaining outlets of Kitchen Plus Restaurant and Coffee Corner..