MANILA - Jollibee Foods Corp said Tuesday it would reduce its planned capital expenditures for the year as the coronavirus pandemic disrupts operations.
Capex for 2020 was cut by 64 percent to P5 billion from P14 billion due to "operational constraints" and "limited mobility" caused by the COVID-19 pandemic, Jollibee told the stock exchange.
Select stores in Luzon were closed from mid-March due to the lockdown, which was extended until April 30. Stores that stayed open were limited to drive thru, takeout, delivery and selling ready-to-cook meals.
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