Tantalizer, a notable Nigeria’s quick-service restaurant brand famous for its sales of fast-food has been recording losses subsequently since 2020 as demand weakened and competition heightened.
The quick-service restaurant’s recent financial statement for the full year of 2024 reveals that Tantalizer recorded an after-tax loss of N265.6 million from an after-tax loss of N290.7 million in 2023.
“Quick Service Restaurants are going retail as much as possible to offer more products and services. There is also the need to go beyond the mega outlets because it is expensive and difficult to run. It is cheaper to run small kiosks,” Ayorinde Akinloye, a Lagos-based investor relations analyst, told BusinessDay.