The Globe and Mail reports in its Saturday, July 11, edition that MTY Food Group ($28.81) posted a second quarter loss of $99.1-million as the company took a $120.3-million non-cash impairment charge related to property, plant and equipment, intangible assets and goodwill owing to the pandemic. A Canadian Press dispatch to The Globe reports that the restaurant company behind such brands as Thai Express, Tiki-Ming, Tutti Frutti and Valentine says the loss amounted to $4.01 per diluted share for the quarter ended May 31. That compared with a profit of $19.3-million or 76 cents a share a year earlier. Revenue fell to $97.8-million compared with $125.6-million in the same quarter last year. MTY franchises and operates fast food and casual restaurants under more than 80 different banners in Canada, the United States and elsewhere. It says 2,757 of its locations were temporarily closed at the peak of the COVID-19 pandemic, but they are now reopening gradually. MTY says that as of Thursday that 573 locations remained closed. The Globe reported on Jan. 10 that Acumen Capital had named MTY Food one of its Top Ideas for 2020. It rated MTY Food "buy." The shares were then going for $56.20.