Business
Tantalizers Explains 2020 Loss
Tantalizers Plc has explained circumstances that led to another loss in its operations in the year 2020.
Reacting to a report on its 2020 financial year which showed the company posting a record loss of N422 million upon a total revenue of N924 million.
The company explaining itself said:
“The advent of the COVID-19 pandemic last year led to the imposition of the lockdown policy by the Federal Government in a bid to halt the spread of the virus thereby resulting in the closure of many businesses and a lull in economic activities during the lockdown period.
“However, Tantalizers Plc was able to surmount the prevailing challenges at the time by adapting her operational processes to meet changing consumption patterns as a result of the stay-at-home order.
“We enhanced our online food delivery infrastructure and strengthened our supply chain network to ensure that our esteemed customers had access to freshly prepared meals at their doorstep. This has been met with resounding success and moving forward, we intend to make this a major part of our operations.
“The company has also anticipated that traffic into fast food outlets might reduce nationwide as a result of the heightened awareness of the disease by the general populace hence we will be launching mini food courts where customers can purchase fresh meals and snacks. Under this arrangement, customers buy meals and leave immediately thereby reducing the possibility of contracting the virus.
“There has also been focus on other aspects of the business such as the bakery/confectionery arm which has witnessed a spike in demand for its bread and cake products. There are currently plans to deepen the distribution network for these products.
“As part of her Corporate Social Responsibility, Tantalizers Plc has been at the forefront of deepening the awareness of the disease by using mass media platforms to enlighten the public on the measures to adopt to curtail and eventually halt the spread of this debilitating disease.
“Tantalizers Plc is continually engaging in business practices that improve its viability and create value for all its stakeholders. It is rather disheartening that a news article was published to undermine the salient efforts taken by the company especially during such precarious times to build organizational resilience and remain competitive in tough market space.
“We remain committed to delivering high quality and satisfying meals to our teeming customers nationwide.”
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