Unsatisfied Performance Causes ECF to a Terminate ‘Can Do’ Franchise in Japan
ECF terminates 'Can Do' franchise agreement due to the operating performance could not be successful as planned.
East Coast Furnitech Public Company Limited (ECF) has announced that ECF Holdings Company Limited as the subsidiary of ECF (ECFH) with 75% of total shares held by ECF has decided to terminate the Franchise Agreement with Can Do Company Limited, Japan by stopping the operation of Can Do Thailand since December 31, 2018
Furthermore, such termination of agreement caused from the operating performance could not be successful as planned and suffered the loss throughout the past. In this regard, ECF does not have any damage expenses or fine charged from Can Do Japan and also does not have any impact on the overview of the Company’s operating performance.
ECF is on the process of provision the new business to be operated by ECFH and to replace Can Do Business but now does not finish the conclusion.
ECFH entered into the Area Franchise Agreement with Can Do Company Limited, Japan on 30 October 2015 in order to conduct the single price retail shop at the price of 60 Baht and Can Do Thailand could be opened 8 branches at the maximum along the duration of Franchise Agreement.
