Published:
Cafe Coffee Day auditor resigns over “commercial considerations”
The Indian chain shuttered 280 outlets between April and June.
The auditor of Coffee Day Enterprise, which owns the Cafe Coffee Day chain, has resigned due to “commercial considerations.”
As reported by the Economic Times, BSR & Associates questioned the reliability of the numbers reported by the holding company, saying it did not find enough evidence to base its opinion on the accounts presented by the management.
A Cafe Coffee Day spokesperson said its audit committee recommended the appointment of Sundaresha & Associates in place of BSR.
The Indian coffee chain shuttered 280 outlets between April and June, citing low profitability and potentially rising costs.
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