Nigerian fast food chain, Tantalizers Plc, is seeking to raise new equity funds to address acute liquidity and capital inadequacy.
In order to address liquidity and capital inadequacy, Tantalizers is seeking to raise new equity funds
The fast food chain has for long remained pinned to the ground following its losing streak that saw net loss of 39 per cent to N784.3 million in 2014.
Chairman, Tantalizers Plc, Jaiye Oyedotun, told shareholders in Lagos that the company needs to urgently address its working capital inadequacy, which has impeded its growth.
“Pending when equity investors can be brought into the company, or other financing options achieved, we will continue to augment working capital requirement through proceeds from retro-franchising, and disposal of unused assets,” he said.
It might interest you to know that Tantalizers’ share price has been stagnant at nominal value of 50 kobo per share.