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An update from ST Group Food Industries Holdings Limited ( (SG:DRX) ) is now available.
ST Group Food Industries Holdings Limited has announced the creditors’ voluntary liquidation of its indirect subsidiary, PPR Ryde, which operates a ‘PappaRich’ outlet in Australia. The decision follows a comprehensive review revealing that PPR Ryde is financially unsustainable due to persistent operating losses, high costs, and weak consumer demand. The liquidation is expected to have a positive long-term impact on the Group’s consolidated net…