Australian franchisor Refund Home Loans joins the growing list of franchisors entering voluntary administration (bankruptcy). However, many of its disappointed franchisees can not wait to take their chances with a new franchisor, whomever that might be.
The collapse of Australian Go Gecko real estate franchise encompasses some common aspects of franchising with common questions about the future of it’s franchisees.
Australian administrator Ferrier Hodgson is taking action against Angus and Robertson franchisees who have moved to terminate their franchise agreements. This will get tricky but if REDgroup, franchisor for a number of brands including Borders, has failed in its contractual obligations the franchisees may have a case.
Borders Bookstores in Australia was either not big enough or small enough to be a viable player in an evolving market. When private equity wants to sell be suspicious. Big landlords need to better interpret and project big tenant performance.
The Greek restaurant franchise, Souvlaki Hut is yet another Australian franchisor to join the growing ranks of franchise brands placed into voluntary administration. Most recently Kleenmaid, Midas, Samsara, Kleins, Timbercorp, Baskin Robbins and Cookie Man in Australia all fell over but that is just the short list. Australian franchising is on a roll.
Midas Australia is a Lazard acquisition that has been considered by industry insiders as going against the natural order of worthwhile investment analysis. Lazard recently sold Newswires
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