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MTY Food Group reports a $55.3 million loss, largely due to a write-down on the Papa Murphy's brand.
MTY Food Group, which owns and operates several restaurant brands, reported a fourth-quarter loss of $55.3 million due to a $64.6 million impairment charge on the Papa Murphy's brand, reflecting lower performance and growth expectations.
Despite the loss, the company's revenue rose to $284.5 million from $280.0 million the previous year.
MTY's portfolio includes brands like Manchu Wok and Mr. Sub.
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MTY Food Group reporta una pérdida de $55.3 millones, en gran parte debido a una reducción en la marca de Papa Murphy.