Servcorp Closes 12 Locations in the US By Way Of Reorganisation

  • Jun 29, 2020 AEST
  • Team Kalkine

Servcorp Limited (ASX:SRV) announced the closure of 12 locations in the USA by way of reorganisation. These locations include:

  • Atlanta (2)
  • Boston (1)
  • Dallas (2)
  • Los Angeles (2)
  • Miami (1)
  • Philadelphia (1)
  • San Francisco (2)
  • Washington DC (1).

Other than these locations, the company has presence in the USA at Chicago (2), Houston (2), New York (5) and Washington DC (1).

Servcorp expects the one-off, cash cost of the reorganisation to be A$5.5 million. Effective 26 June 2020 the reorganisation shall cause in the deconsolidation of the associated legal entities.


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