Business
(VIDEO) Barbeques Galore to Close 62 Stores and Cut Hundreds of Jobs as Aussie Retail Icon Winds Up Operations
SYDNEY — Barbeques Galore, a beloved Australian retailer specializing in barbecues, outdoor furniture and heating products since the 1970s, will shutter 62 company-owned stores and wind up operations in the coming weeks after a last-ditch rescue deal collapsed, putting hundreds of workers at risk of redundancy and marking the end for an iconic brand.
The company, which entered voluntary administration in February 2026 with around 89 stores and 500 employees, announced Tuesday that efforts to find a buyer or complete a recapitalization had failed. Receivers will now oversee the closure of company stores while exploring transitional arrangements for 27 franchise outlets.
Administrators and receivers from Grant Thornton and Ankura had pursued a sale process and a conditional recapitalization proposal from secured creditor Gordon Brothers. However, negotiations with landlords, suppliers and other parties could not reach acceptable commercial terms, leading to the decision to wind up the business.
“This is a tragic final chapter for an iconic Australian retail brand,” said Roger Montgomery of The Montgomery Fund. “If you can’t sell barbecues to Aussies, who can you sell to?”
Founded in the 1970s by Max Mason, Barbeques Galore grew into a household name, offering a wide range of outdoor living products. At the time of administration in mid-February, the group operated 68 company-owned stores and 27 franchised locations. Five underperforming stores had already closed during the process.
The collapse reflects broader pressures on Australian retail, including high inflation, cost-of-living challenges, shifting consumer preferences toward apartments with smaller outdoor spaces, and a post-budget slowdown in spending. Liquidity issues persisted despite earlier ownership changes, including a 2025 transition involving private equity and Gordon Brothers.
Staff will continue to be employed during the receivership process or receive redundancy as stores wind down. Receivers stated that all employees will be paid their full accrued redundancies and termination payments in the ordinary course of separation. The company employed approximately 500 people at the start of administration.
Customers holding gift cards can redeem them until June 30 under specific conditions. For every $1 of gift card value used, shoppers must spend an additional $2 of their own money. Unredeemed cards after the deadline will be treated as unsecured creditors. The arrangement, first announced in February, aims to facilitate orderly wind-down while providing some value to holders.
The failed Gordon Brothers proposal had offered a potential path to keep the business operating as a going concern via a deed of company arrangement. It was viewed as the best outcome for stakeholders, including employees, landlords and suppliers, but ultimately could not proceed.
Receivers noted that a formal sale process attracted interest but yielded no offers capable of acceptance or implementation by late May. The combination of challenging economic conditions and difficulties securing ongoing trading terms sealed the fate of the company-owned operations.
Franchise stores face uncertainty, with receivers working through transitional arrangements. The future of those outlets and associated employees remains unclear as the broader group winds up.
The news comes amid a tough retail environment in Australia. Analysts point to structural shifts, including reduced demand for large outdoor items as more people live in high-density housing, alongside macroeconomic headwinds like rising costs and cautious consumer spending.
Barbeques Galore had attempted to adapt through ownership changes and operational reviews, but persistent liquidity challenges proved insurmountable. CEO David White, who stepped into the role late last year, had expressed optimism during earlier restructuring talks about building on the brand’s market position.
For suppliers and landlords, the wind-up will involve asset sales and stock liquidation. The amount creditors ultimately recover will depend on the outcomes of these processes. Receivers remain in control and will continue exploring any remaining sale opportunities for assets.
The case highlights vulnerabilities in specialty retail. Barbeques Galore’s focus on seasonal and big-ticket items made it particularly susceptible to economic cycles. Similar pressures have affected other Australian chains in recent years, prompting calls for greater support for small and medium businesses.
Customers are encouraged to use remaining gift cards promptly. In-store and online operations for company stores will continue during the sell-through period before closures accelerate. The exact timeline for individual store shutdowns will be communicated as the process unfolds.
Industry observers describe the outcome as disappointing for a brand with deep roots in Australian culture. Barbeques symbolize backyard gatherings and outdoor lifestyle, elements long central to national identity. The closure of dozens of stores will leave gaps in communities where the retailer served as a go-to destination.
As the wind-up proceeds, attention turns to the human impact. Hundreds of employees, many with long tenures, face job losses at a time when the labor market shows signs of softening in retail sectors. Support services for affected workers are expected through standard redundancy processes and government programs.
The failure also underscores challenges in retail restructuring. Even with creditor backing for a recapitalization, securing buy-in from multiple stakeholders proved difficult amid tight margins and uncertain trading conditions.
Looking ahead, the 27 franchise stores may seek independent paths or potential buyers. Receivers will provide updates as developments occur. For the broader retail sector, the episode serves as a cautionary tale about adapting to evolving consumer behaviors and economic realities.
Barbeques Galore’s story began decades ago with a focus on quality barbecues and outdoor essentials. While the company-owned operations conclude, the brand’s legacy in Australian shopping may endure through remaining franchises or potential asset acquisitions. For now, the immediate focus remains on an orderly closure that honors employee entitlements and customer commitments where possible.
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A Trump administration official is touting the recently launched Trump Accounts as a means to boost young Americans’ financial literacy and appreciation for capitalism by giving them experience that draws them away from “poisonous ideologies” such as socialism.
Comptroller of the Currency Jonathan Gould spoke at a planning meeting for the Financial Literacy and Education Commission on Tuesday and said in remarks reviewed exclusively by FOX Business that Trump Accounts can help Americans understand how the financial system and markets work, showing the benefits of capitalism.
“When Americans understand how our financial system works, they are better equipped to save for the future, protect themselves from fraud, and fully participate in the greatest economy in the world,” he said. “For Americans to believe in capitalism, they need the opportunity to participate in it.”
Trump Accounts officially launched earlier this month. (Win McNamee/Getty Images)
“If financial illiteracy leads to socialism and other poisonous ideologies proliferating on college campuses and in certain cities, Trump Accounts can be the antidote, minting a generation of capitalists who believe in America, build wealth, invest in their communities, and own a share in our nation’s economic success,” Gould added.
WHAT ARE THE INVESTMENT OPTIONS FOR TRUMP ACCOUNTS?
Trump Accounts were created by the One Big Beautiful Bill Act last year and were formally launched on July 4.
The initiative creates tax-advantaged investment savings accounts for eligible children, with those born between 2025 and 2028 given $1,000 in seed money from the federal government. Parents and guardians may contribute up to $5,000 per year to the accounts belonging to their children, while a parent’s employer can contribute up to $2,500 annually without impacting the employee’s taxable income.
Pedestrians walk past an American flag displayed outside of the New York Stock Exchange (NYSE) in New York, U.S., on Sept. 12, 2016. (Michael Nagle/Bloomberg via Getty Images)
Funds in Trump Accounts may be invested into low-cost index funds with broad, diversified exposure to the U.S. stock market.
Over time, proponents of Trump Accounts note that strategy could yield significant returns for Trump Account beneficiaries based on the historical performance of the U.S. stock market.
GOLDMAN SACHS TO CONTRIBUTE $1,000 TO TRUMP ACCOUNTS FOR ELIGIBLE CHILDREN OF EMPLOYEES
An analysis by the White House’s Council of Economic Advisors (CEA) found that based on historical average returns on the U.S. stock market, funds invested in Trump Accounts could grow into a substantial nest egg by the time a child turns 18, depending on how much is contributed over time. The funds could then be used to help pay for education expenses, a down payment on a home, or a jump start on retirement savings.
CEA found that if maximum contributions are made to an account belonging to a child born in 2026, the account balance would reach $303,800 by age 18 and $1,091,900 by age 28 in a medium-returns scenario.
In a low-returns scenario with maximum contributions, balances would be $187,400 by age 18 and $772,200 by age 28; while in CEA’s high-returns illustration, the balances would be $730,400 by age 18 and $1,904,300 by age 28.
The White House released an app for Trump Accounts. (Trump Accounts / Fox News)
If no contributions are made to a Trump Account belonging to a child born in 2026 beyond the $1,000 seed money from the government, the account balance would reach $5,800 by the time they turn 18, with continued compounding growth taking that total to $18,100 by age 28 in CEA’s medium-returns scenario.
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Ahead of the program’s official launch, the Treasury Department unveiled the default exchange-traded fund (ETF) that is available to investors now – as well as four other ETF options that will be added to the accounts as alternatives.
The default investment option is the State Street SPDR Portfolio S&P 500 ETF (SPYM), which is a low-cost ETF that tracks the performance of the S&P 500 Index.
Treasury explained it provides broad exposure to the U.S. stock market and has a low fee structure that’s well below the expense ratio limit of 0.1% that was established by law.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SPYM | STATE STREET® SPDR® PORTFOLIO S&P 500® ETF – USD DIS | 86.99 | +0.03 | +0.03% |
| IVV | ISHARES CORE S&P 500 ETF – USD DIS | 742.55 | +0.19 | +0.03% |
| VTI | VANGUARD TOTAL STOCK MARKET ETF – USD DIS | 365.18 | +0.38 | +0.10% |
| SPTM | STATE STREET® SPDR® PORTFOLIO S&P 1500® COMPOSITE STOCK MARKET ETF – USD DIS | 89.87 | +0.07 | +0.08% |
| ITOT | ISHARES TRUST CORE S&P TOTAL US STOCK MKT | 162.10 | +0.10 | +0.06% |
Four other low-cost ETFs that track broad indexes will be added to the Trump Accounts lineup of investment options:
- iShares Core S&P 500 ETF (IVV)
- Vanguard Total Stock Market ETF (VTI)
- State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM)
- iShares Core S&P Total U.S. Stock Market ETF (ITOT)
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Treasury indicated at the time of the announcement that it expected the functionality for additional investment options to roll out in the coming months, which would let parents or guardians allocate funds across the additional options.
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A major rural lifestyle retailer is closing dozens of pet stores in its portfolio around the country as it reevaluates both its existing footprint and growth plans.
Tractor Supply released its latest earnings report last week and revealed plans to close 75 Petsense locations around the country.
The company said in its release that as of late June, there were 209 Petsense by Tractor Supply stores across 23 states.
“Following a disciplined review of Petsense, we’ve decided to close approximately 75 underperforming stores. We believe these actions will improve returns, simplify the business, and allow us to direct resources towards higher growth, higher return opportunities,” said CEO Hal Lawton on the earnings call.
Tractor Supply revealed plans to close 75 Petsense stores around the country. (Spencer Platt/Getty Images)
Lawton noted that the Petsense locations that are closing were negative four-wall cash flow, meaning that those stores’ sales weren’t enough to cover costs that are local to individual stores, such as rent, labor and inventory.
Stemming the losses from those locations will allow the company to reinvest funds back into the core of the business, he added.
Lawton also said that after the closures, he thinks the company will “have a very strong, profitable Petsense business,” and that it will work well within the company’s broader pet ecosystem that includes Allivet and VIP Petcare.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSCO | TRACTOR SUPPLY CO. | 31.80 | +0.78 | +2.51% |
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He also emphasized that the company doesn’t view the changes with Petsense as affecting the reacceleration of pet products within the core Tractor Supply business, which isn’t directly connected to Petsense.
Tractor Supply CFO Kurt Barton said on the call that the “strategic repositioning of Petsense is expected to create a healthier, more profitable business that better complements our Tractor Supply stores and strengthens our ability to serve pet customers across our integrated pet ecosystem.”
Tractor Supply said that its closure of 75 Petsense locations won’t affect its other pet-oriented initiatives. (Don and Melinda Crawford/UCG/Universal Images Group via Getty Images)
TRACTOR SUPPLY NO LONGER GOING WOKE, ELIMINATES DEI GOALS
Lawton also said that Tractor Supply plans to open dozens of new stores in 2027, though the total number is expected to be approximately 85 to 90 stores as opposed to the company’s previous expectation of opening 100 new stores.
Funds saved from the pared-back store opening plans will be redeployed toward initiatives like remodels under Project Fusion, which aims to improve the performance of Tractor Supply’s existing store base.
Johnson & Johnson (J&J) has offered to pay as much as $5.5bn (£4.14bn) to resolve tens of thousands of lawsuits alleging that its baby powder and other products containing talcum cause ovarian cancer.
The proposed landmark settlement aims to close a long-running legal battle that has weighed on the US healthcare giant for years.
J&J has denied that its talc-based products caused cancer and has changed the formula of its widely-used baby powder.
Erik Haas, the firm’s vice president of litigation said on Monday, external that the allegations are “meritless” and that J&J was willing to settle in order to finally resolve the matter.
J&J said the settlement would cover about 69,000 cases, totalling most of the remaining talc-related claims. The firm will offer up to $3bn next year, with no additional payments due before 2028, it said.
The proposal must be accepted by legal firms representing 95% of the ovarian cancer claims in state and federal courts before it can be finalised, the J&J said.
Haas said in a statement that the company is confident that it would have “ultimately prevailed with further litigation” just as it has in the majority of cases heard in court to date.
He added that the proposed resolution “allows the company to put this matter behind it” and enable J&J to “remain focused on its mission to develop medicines and devices that save lives”.
Lawsuits against J&J over its talc-based baby powder started as early as 2009.
Earlier in July, a federal court handed the firm a victory by questioning individual plaintiffs’ ability to show that talc was the direct cause of their ovarian cancer.
Talc is a natural mineral made of magnesium, silicon, oxygen and hydrogen, known for its soapy feel and is often used in baby powder.
The company has faced lawsuits from consumers and their survivors who claim J&J’s talc products caused cancer due to contamination with asbestos.
Talc is mined from the earth and is found in seams close to that of asbestos, which is a material known to cause cancer.
J&J has repeatedly denied the allegations and in its latest announcement said: “Studies show talc is safe, does not contain asbestos and does not cause cancer.”
In 2022, J&J said it would stop making and selling its talc-based baby powder around the world.
The announcement came more than two years after it had ended sales of the product in the US.
“As part of a worldwide portfolio assessment, we have made the commercial decision to transition to an all cornstarch-based baby powder portfolio,” J&J said at the time.
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Ford Motor Co. is pursuing what could be its biggest military contract in decades as it competes to build a new tactical truck for the U.S. Army.
The automaker has secured a Department of War contract to develop three prototypes based on its F-Series Super Duty pickups, The Wall Street Journal reported Monday.
The competition comes as the Pentagon taps automakers to replenish and modernize military equipment strained by global conflicts, according to the outlet.
“We are excited to start work on this Army contract and look forward to delivering several incredibly capable vehicle types that demonstrate the value Ford can provide to the Army and soldiers,” a Ford spokesperson told FOX Business in an email.
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The Ford Motor Co. Michigan Assembly plant is pictured in Wayne, Michigan, on March 23, 2020. Ford is pursuing what could be its biggest military contract in decades. (Anthony Lanzilote/Bloomberg via Getty Images)
The spokesperson said Ford’s Super Duty trucks are engineered for “extreme durability” and demanding conditions, making them an “ideal platform” for military use.
Ford Pro also offers global service and parts support, along with technology aimed at improving vehicle uptime, the spokesperson noted.
“Ford’s off-the-shelf solutions can deliver unmatched capacity and scale, cutting-edge technologies, and the rugged capabilities that can offer game-changing value and performance and meet the needs of governments and the military in a highly cost-effective way just as we do with our commercial customers,” the spokesperson said.
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Workers assemble Ford vehicles at the Chicago Assembly Plant on June 24, 2019, in Chicago, Illinois. The spokesperson said Ford’s Super Duty trucks are engineered for “extreme durability.” (Scott Olson/Getty Images)
The move puts Ford in the running alongside rival General Motors (GM), which is developing a similar tactical truck.
GM unveiled its prototype in 2024, and the military has begun field testing it, according to The Wall Street Journal.
In addition to the two automakers, the Army has awarded a prototype contract to BC Customs LLC, a Utah-based off-road vehicle manufacturer, according to The Detroit News.
For Ford, the program could represent its largest military vehicle opportunity since the Cold War, the outlet reported.
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GM Defense’s Next Gen tactical vehicle is shown in an undated company photo. The move puts Ford in the running alongside rival GM, which is developing a similar tactical truck. (General Motors)
In May, Ford said it had been in discussions with governments in North America and Europe about using its commercial vehicles and software to support defense needs.
The company said some governments already use Ford vehicles for military transport and security operations.
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The Department of War referred FOX Business to the U.S. Army, which did not immediately respond to a request for comment.
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