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Via UBS:
Retail Food Group could shut as many as 460 stores over the next 2.5 years as it tries to not breach its agreements with its bankers, according to a leading analyst.
UBS analyst Jordan Rogers slapped a sell on RFG’s shares on Tuesday in the wake of a weak result from the owner of the Gloria Jeans and Brumby’s Bakeries chains.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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