Oliver’s Real Food (ASX: OLI) expects to achieve annual cost savings of $4 million from a corporate restructuring announced today following a six-month review to make the company profitable after years of financial woes.
With a renewed board and an extra $5 million in funds from a recent placement backed by institutional investors, the company will now be divided into two core businesses – Oliver’s Real Food involving stores and franchises, and the retail convenience business Oliver’s Food to Go.
The board and management expect cost savings from having a centralised food preparation facility in Brisbane for the Oliver’s Real Food business, with delivery outsourced to a third-party logistics company with a national footprint to reach…
Read the full article at: https://www.businessnewsaustralia.com/articles/oliver-s-restructure-to-break-up-food-and-convenience-retail-businesses.html