May 4, 2020 / 9:03 AM / a month ago

BRIEF-Lifebrandz Says Decided On Permanent Closure Of Hashida Sushi Singapore Operated By Unit

May 4 (Reuters) - Lifebrandz Ltd:

* DECIDED ON PERMANENT CLOSURE OF HASHIDA SUSHI SINGAPORE OPERATED BY UNIT

* FOREGOING WILL NEGATIVELY IMPACT GROUP’S CASH FLOWS, FINANCIAL POSITION AND EARNINGS PER SHARE FOR FY ENDING JULY 31 2020

* MULLIGAN’S IRISH PUB AIMING TO RE-OPEN ON 6 MAY

* DURING COVID-19 OUTBREAK PERIOD, COMPANY EXPECTS REDUCTION IN REVENUE

* EXPLORING OTHER FINANCING OPTIONS TO IMPROVE LIQUIDITY

* WITH PERMANENT CLOSURE OF HASHIDA SUSHI, CO INTENDS TO EXPEDITE OPENING OF KAJI F&B

* GROUP EXPECTS TO INCUR ONE-OFF RETRENCHMENT COSTS OF AROUND S$65,000 FROM PERMANENT CLOSURE OF HASHIDA SUSHI Source text for Eikon: Further company coverage:

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