[ICYMI] GPS Foods Group RSA has served a summons on SpurRestaurant for alleged damages of R183.3 million related to the establishment of a so-called joint venture for a rib supply and processing facility in Cape Town. Moneyweb Spur
Spur Corporation, the JSE-listed multi-brand restaurant franchisor, is facing a multi-million rand damages claim from GPS Foods Group RSA, a subsidiary of the global GPS Food Group. GPS Foods Group RSA has served a summons on Spur for alleged damages of R183.3 million related to the establishment of a so-called joint venture for a rib supply and processing facility in Cape Town. GPS Food Group established the rib supply and processing facility in about 2017 after acquiring premises in Cape Town.
These damages comprise alleged capital expenditure, start-up losses and projected operating losses for a five-year period ending November 2022, it said. “GPS alleges in the alternative that, in the event of it being found that the group did not become bound by the oral joint venture agreement, the group’s conduct represented that it regarded itself as bound by the agreement and that this gives rise to a delictual claim in the sum of R60.
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