Barbeques Galore Enters Voluntary Administration

Barbeques Galore has entered voluntary administration.

This new development comes after the company failed to find a new buyer.

Details of Barbeques Galore’s Voluntary Administration

According to a report by ABC News, Grant Thornton has been brought in as voluntary administration, while receivers from Ankura have already been appointed.

Liquidity issues have also been cited as a reason for the company’s collapse.

CEO David White said that “Management was excited to turn around the business and move to the next evolution of the brand.”

“Considerable progress has been made in recent months, leading to significant improvements across the business and operations; however, ongoing liquidity challenges have led to the necessary restructuring of the business,” he explained.

Per a report by news.com.au, both the administrator and receivers believe that the company needs to be sold.

What Does This Mean for Employees, Franchises, and Customers?

As of writing, Barbeques Galore has 68 company-owned stores and 27 franchise stores across the country.

Franchises are not expected to be affected by the appointments and restructuring. However, the future of 500 jobs remains unclear.

It has been assured, however, that in-store and online orders that have already been paid for or partially paid for will be honoured.

For those who have purchased gift cards and still have not used them, these can only be used if the buyer spends twice the amount of the card’s value in cash.