US Edition500 staff feel heat as beloved barbeque retailer goes bust
- On Thursday, Barbeques Galore plunged into receivership as Ankura, global advisory firm, was appointed receivers and Grant Thornton was named voluntary administrator.
- Management had reported progress, but ongoing liquidity challenges led to restructuring, with CEO David White citing cash flow as the major issue.
- About 500 staff work across nearly 100 stores, including 68 company-owned and 27 franchise stores, while customers holding vouchers must spend $2 per $1 to redeem them.
- Receivers said they will continue normal trading while assessing options including a potential sale or restructure, pledging to communicate with suppliers, franchisees and landlords and honouring in-store and online paid orders.
- Facing market shifts, the business is being assessed for sale or restructure, with liquidation possible if debts aren't recovered; Roger Montgomery noted, `Bunnings has moved aggressively into supplying barbecue equipment at cheaper prices`.
19 Articles
19 Articles
49-Year-Old Australian Barbecue Chain Enters Receivership, 500 Staff at Risk
Australian icon Barbeques Galore has entered administration and receivership, impacting up to 500 positions depending on the restructure. This comes just two months after U.S. based investment firm Gordon Brothers agreed to acquire the company in December. Control of Barbeques Galore operations have now been passed on to administrators Grant Thornton and receivers Ankura due to “liquidity issues.” “The receivers have taken control of the busines…
500 jobs in limbo as Barbeques Galore enters administration
About 500 jobs are in limbo after Barbeques Galore entered voluntary administration and receivership, following what the retailer described as ongoing cash flow pressure. Grant Thornton’s Philip Campbell-Wilson, Lisa Gibb and Matthew Byrnes were appointed voluntary administrators on Thursday to review options for the barbeque and outdoor furniture chain. The business operates 68 company-owned stores and 27 franchise locations nationwide, totalli…
Sydney Morning Herald
Barbeques Galore enters receivership
Barbeques Galore has entered receivership, putting about 500 jobs at risk.
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