CCD shuts 280 outlets in April-June

NEW DELHI:

Homegrown cafe

chain

Cafe Coffee Day

has shuttered 280 outlets in the April-June quarter due to

profitability issues

, leaving it with around 1,500 operational ones.


Expenses for the brand could rise in the future, the company said. Cafe Coffee Day is owned by Coffee Day Global, a step-down company of

Coffee Day Enterprises

.

“Export operations have been temporarily stopped due to lower margin and higher working capital requirement, and around 280 outlets are closed during the quarter, based on various factors including the profitability, future increase in major expenses,” the company said.

The company further said that the decision “will result in continuing the remaining cafes profitable and adding value to the company as a whole”.

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