Restaurant operator Collins Foods says it is taking an $11.9 million writedown on eight underperforming Taco Bell outlets and hitting pause on building any more, beyond the five or six currently under development.
The company suffered an $800,000 operating loss on its 24 Australian Taco Bells in the six months from May 2 to October 16, and says it wants to rejig them in conjunction with US-based franchisor Yum! Brands.
