Debonair’s, Steers units record Sh5m loss in Kenya
Monday, June 22, 2020 0:01
By DOREEN WAINAINAH
Debonairs Pizza products on display.
FILE PHOTO | NMG
Kenya's Steers and Debonair’s Pizza under the Famous Brands posted a loss of Sh4.86 million (R767,000), reflecting increased competition in the sector that is also served by KFC.
In its financials for the year ended February 2020, South Africa-based restaurant fanchiser Famous Brands disclosed the loss was posted by its local subsidiary, months after it took direct control of Steers and Debonair’s outlets in Kenya.
The SA based firm bought out Hoggers — the Kenyan firm that held franchise licence for Steers and Debonair’s Pizza locally — to run its businesses through FB Franchising Kenya.
The loss of the branches coupled with increased competition from other franchises including KFC and Simbisa’s Chicken Inn and Pizza Inn have seen the businesses continue to struggle.
