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BRIEF-Kresta Holdings Says Will Evaluate Feasibility Of Retail Footprint

Published 20/12/2018, 06:04 pm
© Reuters.  BRIEF-Kresta Holdings Says Will Evaluate Feasibility Of Retail Footprint
KRS
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Dec 20 (Reuters) - Kresta Holdings Ltd KRS.AX :

* COMPANY WILL EVALUATE FEASIBILITY OF RATIONALISING ITS RETAIL FOOTPRINT AND CLOSING LOSS-MAKING STORES

* ANTICIPATES ACTION MAY RESULT IN A REDUCTION OF ITS RETAIL STORE FOOTPRINT BY ABOUT 10 TO 15 PERCENT

* HAS IDENTIFIED NEED TO EXPAND SALES FORCE FOR CUSTOM MADE WINDOW TREATMENT BUSINESS SECTOR

* SUNTARGET AND APLUS HAVE EACH TO ADVANCE SUBORDINATED, UNSECURED, INTEREST-FREE LOAN TO CO OF UP TO $10 MILLION

* RESTRUCTURING INITIATIVES WILL DRIVE AN INCREASE IN REVENUE OF $3 MILLION TO $4 MILLION IN NEXT 12 MONTHS

* EFFICIENCIES WILL BE OBTAINED THROUGH LEASING UNDERUTILISED FACILITIES, WITH EXPECTED RENTAL INCOME OF $1.1 MILLION TO $1.3 MILLION/ANNUM

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