Vestand suspends restaurant operations, closes 12 locations; Chief Compliance Officer resigns citing concerns

Vestand Inc.

Andrew Yun resigned as CCO and director, citing concerns about company direction and that his advice was not adopted or considered.
Abe Lim resigned as director, with no disagreement with the company or board.
Board approved temporary suspension of restaurant operations to mitigate losses; 12 California and Nevada locations closed.
Additional restaurant closures may occur; five locations are in lease-related defaults.
Reopening of any location is contingent on obtaining adequate financing.

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