July 10 (Reuters) - MTY Food Group Inc MTY.TO :
* MTY REPORTS SECOND QUARTER RESULTS
* Q2 LOSS PER SHARE C$4.01
* Q2 SALES FELL 19 PERCENT TO C$670.7 MILLION
* QTRLY NON-CASH IMPAIRMENT CHARGE OF $120.3 MILLION RELATED TO PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND GOODWILL
* CASH ON HAND OF $49.9 MILLION AS AT MAY 31, 2020
* MANAGEMENT INITIATIVES RESULTING IN A REDUCTION OF RECURRING CONTROLLABLE EXPENSES OF $10.1 MILLION FOR Q2
* OVERALL CUSTOMER TRAFFIC REMAINS AFFECTED BY VARIOUS LOCAL REGULATIONS AND CHANGES IN CONSUMER BEHAVIOR
* MTY FOOD GROUP - IN QUARTER, AMENDED EXISTING CREDIT FACILITY WITH MORE FLEXIBLE FINANCIAL COVENANTS FOR NEXT FOUR QUARTERS