top of page
All Stories

Max’s Group estimates foregone sales at P24M

Restaurants under the Max’s Group, Inc. have lost about P24 million in foregone sales after it shut down all its stores nationwide due to the imposition of strict quarantine rules in Luzon and other areas in the country, the company told the Philippine Stock Exchange (PSE).

In a post on Facebook on March 27, Max's said it was "pausing its operations" as its contribution to efforts to flatten the curve of the coronavirus disease (COVID-19) cases.

In the same post, the company encouraged customers to visit to pledge "a plate of a hot, filling meal" to be delivered to frontliners in the battle against the disease.

On March 31, the company told the PSE that it has maintained productivity “to make use of our inventories and commissaries, including CSSR initiatives in support of frontline health care professionals that will increase public goodwill towards our enterprise and our portfolio of brands.”

The company’s brands include Max's Restaurant, Pancake House, Yellow Cab, Krispy Kreme, Sizzlin' Steak, Teriyaki Boy, Dencio’s, Kabisera, Maple, Jamba Juice and Eats.

The company said it was developing new business models and new products to prepare for the resumption of its operations.

“We are likewise optimizing and streamlining our plans to relaunch at our previous trajectory upon resumption of operations. This includes the development of new business models, new products, and marketing programs to reactivate patronage and profitability,” the company added.

As of December 31, 2018, there are a total of 673 outlets of Max’s Group brands, including 55 overseas.

All production, distribution and storage requirements of its stores are served by three commissaries based in Metro Manila.

Metro Manila (or National Capital Region), a region with over 12 million inhabitants, was placed under a general community quarantine on March 15, 2020 as a measure to stop the spread of the novel coronavirus, the infectious pathogen that causes coronavirus disease (COVID-19).

On March 17, President Rodrigo Duterte widened the coverage of the quarantine to include the entire Luzon and intensified the restrictions, mandating all 53 million people on the island to stay at home.

Public transportation systems as well as domestic air and sea travel have been suspended. The enhanced community quarantine will last until April 14, 2020.

Other local governments, however, have also imposed localized quarantine rules.

Cebu City went on lockdown on March 28, followed by the entire Cebu province on March 30, 2020. This enhanced community quarantine in Cebu will last until April 28, 2020.

“Our management team monitors the market on a daily basis to evaluate the soonest possible opportunity to resume business in a manner that is mindful and responsible both for our stakeholders, and for the health and safety of our employees,” Max’s Group said.

The novel coronavirus, or SARS-CoV-2, has infected 1,546 and killed 78 in the Philippines. Only 42 patients have, so far, recovered.

Worldwide, the infection has killed 33,106 people. The World Health Organization said 693,224 have contracted the disease as of March 30, 2020. (Ventures Cebu)

Subscribe to our weekly newsletter
bottom of page