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Spur's restaurant sales plunged over 80% since the start of lockdown

All the restaurant chains in Spur Corporation's stable have reported massive drops in sales during May and June due to the nationwide lockdown. 

Spur owns Spur Steak Ranches, Italian food franchise Panarottis, seafood restaurant John Dory's, burger joint RocoMamas and steak restaurant Hussar Grill.

Sales plummeted by 87.2% in May and 83.6% in June, according to a trading update released on Thursday.

SA restaurants were able to recommence trading on a delivery-only basis at the start of May, with a collection permitted from June 1, 2020. Sit-down services resumed on June 29. 

Earlier in the week Spur's longtime CEO, Pierre van Tonder, handed in his resignation after leading the restaurant group for 24 years, saying the Covid-19 pandemic is worse than the global financial crisis. 

 

Anathi Madubela

Fin24 

 
 

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