KUALA LUMPUR: Tun Dr Mahathir Mohamed's premium bakery, The Loaf, has closed down its business after 12 years of operation.
The closure was announced through a notice uploaded to social media dated April 9, which was addressed to their customers.
The notice, however, did not state the reason why it closed other than that the management was satisfied that The Loaf had achieved its primary objective of improving the quality of breads and the bakery industry in the country.
“Thank you very much for enjoying and supporting the Loaf and our breads all these long years. We are truly happy and proud of the fact that the Loaf has been able to contribute to the betterment of quality of breads and bakery industry in Malaysia,” the notice said.
The Loaf is managed by M & M Consolidated Sdn Bhd, a joint venture between Dr Mahathir and Motoko Resources Sdn Bhd. Dr Mahathir owns 51 per cent stake in the company.
The Loaf opened its first outlet in Telaga Harbor, Langkawi in 2006 with an investment of RM3 million.
It then expanded to 12 outlets among KLCC, Pavilion and Sogo shopping mall in Kuala Lumpur and Empire Shopping Gallery, Subang Jaya.
Meanwhile, a staff of the premium bakery shared on Twitter how The Loaf was abruptly closed.
Using the profile name little bald head (@imannwu), the staff said all employees were unaware of the closure beforehand and were only informed on the day itself.
He said the management also informed employees that they would be compensated due to the closure of the business.