Closed 70 stores of "Royal HD" Deterioration of profits due to new corona 23:10 on May 14
"Royal Holdings", a major family restaurant, announced that it will close about 70% of the total of 70 stores nationwide by December next year due to the deterioration of profits due to the spread of new coronavirus infection.
According to the announcement, we will close about 70 stores such as "Royal Host", "Tendon Tenya", and a cafeteria operated by a company, where we cannot expect an improvement in profits.
This accounts for about 10% of the total number of stores in Japan, and the company plans to close it by December 2021 next year.
Regarding the reason, Royal Holdings said it decided that it was necessary to sort out unprofitable stores as profits deteriorated significantly due to the spread of the new coronavirus, and the policy is to maintain the employment of employees by relocating within the group etc. is.
The company continues to take temporary closures of stores and shorten business hours due to the spread of infection, and the situation remains severe, with sales of the mainstay family restaurants dropping by nearly 60% last month.