SAY goodbye to cheesy bread and all-you-can-eat dessert toppings, popular 90s restaurant Sizzler is in quite a bit of financial strife.
It has been announced that Collins Foods will shut some of its Sizzler restaurants after a $10.4 million loss for the year, compared to a $14 million profit a year ago.
The company says it now regards Sizzler Australia as “non-core” to its strategic growth and it plans to close a limited number of Sizzler restaurants in the 2016 financial year.
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“We no longer consider Sizzler to be a strategic growth prospect in Australia and therefore we will not be investing further capital,” said CEO Graham Maxwell.
Online bookmaker Sportsbet has pegged 2017-18 as the most likely date for the final Sizzler restaurant to close.