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ST Group Food Industries Holdings Limited ( (SG:DRX) ) has shared an update.
ST Group Food Industries Holdings Limited has announced the proposed creditors’ voluntary liquidation of its indirect subsidiary, GCTea Ltd, in the UK. This decision is part of the company’s strategic plan to exit the Gong Cha brand in the UK, as it is no longer viable for GCTea to continue operations. Additionally, a general meeting for GCTea Outlets 2B Ltd is scheduled to seek approval for its liquidation, with Mark Weekes and Paul Stanley nominated as joint…