NoHo Partners launches new co-operation negotiations to adapt its operations to restaurant closures

NoHo Partners Plc



STOCK EXCHANGE RELEASE 25 February 2021 at 10:45





NoHo Partners launches new co-operation negotiations to adapt its operations to restaurant closures





NoHo Partners Plc will start new negotiations in accordance with the Co-operation Act in order to adjust its operations to the closure measures concerning the restaurant industry published by the Finnish Government today, which will enter into force on March 8, 2021. The aim of the negotiations is to minimize the economic impact of the COVID-19 pandemic.





The co-operation negotiations cover the entire Group's personnel, i.e. approximately 1,250 people in Finland. In addition, the effects of the restaurant restriction measures are indirectly reflected in the company's approximately 2,000 temporary employees. Negotiations can lead to reduction of jobs and layoffs, part-time and full-time.





- We will take immediate measures to close the restaurants and thereby lay off staff for the duration of the closure. Now begins the final round of the corona battle, which requires endurance from us, our customers, and, above all, from our staff. I believe that with the measures being taken now and the progress of the vaccination pace, we will be able to start the reconstruction phase as planned during the summer and return to a more normal life, says Aku Vikström, CEO of NoHo Partners.

More information available from:

Aku Vikström, CEO, tel. 9

Jarno Suominen, Deputy CEO, tel. 5

Distribution:

Nasdaq Helsinki

Major media

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NOHO PARTNERS PLC is a Finnish group established in 1996, specialising in restaurant services. The company, which was listed on NASDAQ Helsinki in 2013 and became the first Finnish listed restaurant company, has continued to grow strongly throughout its history. The Group companies include some 250 restaurants in Finland, Denmark and Norway. The well-known restaurant concepts of the company include Elite, Savoy, Teatteri, Yes Yes Yes, Stefan’s Steakhouse, Palace, Löyly, Hanko Sushi, Friends & Brgrs and Cock’s & Cows. Depending on the season, the Group employs approximately 2,100 people converted into full-time workers. The company’s vision is to be the most significant restaurant company in the Nordic countries.