Jakarta –
PT Cipta Selera Murni Tbk (CSMI), which oversees the Texas Chicken fast food restaurant, announced the company’s condition as of August 14, 2023. In an information disclosure on the Indonesia Stock Exchange (IDX) through Letter No. S-05679/BEI.PP2.02-2023 dated July 12 regarding reminder delisting.
In the letter signed by the Director of PT Cipta Selera Murni Tbk Radino Miharjo explained the current operational conditions of the Company. On 14 March 2023 the Company decided to cooperate with Cajun Global LLC and the closing process began on 28 February 2023 where the Company could no longer use the Texas Chicken brand.
Cancellation of this franchise agreement, Cajun (principal) provides relief to the Company in the form of write-off of debt royalties and initial fees. The company has experienced financial difficulties since the COVID-19 pandemic so that there is a decrease in turnover or revenue until the end of 2021, even in 2022 the company cannot carry out planning such as opening a new restaurant.
“The company has also tried to present new menus, namely international menus, however, it cannot increase sales because it is still in a pandemic condition,” he wrote, quoted on Friday (18/8/2023).
Currently all restaurants have been closed and the Company has completed all restaurant closures according to the approval of the mall management. The current financial performance of the Company still records Revenue of IDR 1,786,983,771 and suffers a loss of IDR 4,040,618,346.
In the second semester of 2023 the Company has discussed with the Shareholders regarding the plan to use the assets currently owned by the Company and hopes to start a new business this year.
The company will inform the Authority if a new business has been carried out. “The company will try to pay the annual listing fee (ALF) and open a new business,” he said.
(kilo/kilo)
2023-08-18 09:22:49
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