The Retail Food Group Limited (ASX: RFG) share price rose 4.4% today after making an announcement to the market.
The food outlet franchisor said that the negotiations with a potential buyer for its Donut King and QSR division have ended. A formal binding agreement could not be reached which the RFG Board considered were for the best of the company as a whole.
Executive Chairman Peter George said “Our Donut King and QSR brands continue to provide solid earnings contributing to the Company’s underlying profit. The potential sale of any of these assets must be at a price not only acceptable to our Board but in the best interests of our shareholders.”
It might be seen as good news that Retail Food Group did not have to make a fire sale to raise any funds possible.
The company will continue to explore options to reduce its debt, including the potential sale of assets.
These 3 stocks could be the next big movers in 2020
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
*Returns as of 6/8/2020
Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.