Mainly because footfall is well down, and, worryingly, that has been the trend for a long time.
Also, one experienced franchisee, who was well versed in the GFY share price and market cap, wouldn't be a buyer even at this level. That may be just one man's opinion but it's a well informed one.
My own view, group LFL sales last year were down 9.7%. That's a big number. Overall sales were flat but inventory was up significantly. How will they shift that stock at a profit ?
In fact, why are they opening new stores at all in a declining market ?
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