Group dumps two brands

Grand Parade Investments said yesterday it was exiting poor performing assets Dunkin Donuts and Baskin Robbins as part of a strategy aimed at improving the group’s capital allocation.

“Since June 2018, it became apparent that both brands would not meet their original, nor revised forecasts based on the poor performance of existing stores,” acting CEO Mohsin Tajbhai said, adding that the businesses had negatively impacted the group’s cash resources.