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Real Good Food Company, Inc. Class A (RGF) has provided an announcement.
In a strategic move, a company plans to shut down its City of Industry facility by June 30, 2024, and relocate some equipment to its more advanced Bolingbrook site. The closure, expected to incur minimal costs, aims to consolidate operations and is projected to result in significant savings by eliminating expenses like rent and salaries. The company has appointed Mark Dietz as the senior vice president of operations to oversee the transition, asserting that the change is not indicative of discontinued operations but an optimization of resources. Despite potential risks, the company’s forward-looking statements suggest a positive outcome from these changes.
For a thorough assessment of RGF stock, go to TipRanks’ Stock Analysis page.
