SmartCompany.com.au:
Poor retail sales, threats of litigation and disgruntled franchisees are
being blamed for the collapse of fast food franchise Souvlaki Hut.
However, administrator Laurie Fitzgerald of BDO says he is confident of finding a buyer and finalising an agreement within the next few weeks.
“We have found a buyer, and hopefully over the course of the next two or three weeks we will be able to finalise an agreement and get contracts signed and so on,” Fitzgerald told SmartCompany this morning.
But other buyers are waiting in the wings, with Franchised Food Company chief executive Stan Gordon saying the company is a good fit alongside its existing holdings and that it can deliver value for Souvlaki Hut franchisees.