Allied Brands’ Shake Up

Franchise group Allied Brands is facing an overhaul as it tightens up its brand portfolio, closes 14 company owned stores and reports assets overvalued to the tune of $32 million for the financial year 2009 to 2010; earlier predictions had set the figure at between $13 million and $15 million.

However it refers mainly to soft assets, the major portion of which is good will, he said. “It’s historical. The main question is how do we become profitable and give shareholder returns?”

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