Flannerys health food chain falls into administration
THE enterprise behind the Gold Coast-founded Flannerys well being meals shops has fallen into administration, casting doubt over the way forward for the chain’s 15 retailers.
Mal and Berice Flannery established Mrs Flannery’s – now often called Flannerys Natural & Entire Market – in 1973 and grew it right into a multimillion-dollar franchise enterprise earlier than promoting out 11 years in the past.
This morning a discover was filed with the Australian Securities and Investments Fee asserting Timothy Prepare dinner, of Steadiness Insolvency, had been appointed administrator to The Pure Grocery Firm Pty Ltd.
The corporate was registered in 2015 as a retailer and franchisor of pure natural groceries and had income of $66 million in FY18 and greater than 500 staff. Its different manufacturers aside from Flannerys included Kunara, Mrs. Watsons and Fundies.
That 12 months it fell to a $440,000 after-tax loss and auditors for FY18 forged doubt on its monetary viability because of debt of $24.97 million.
Flannerys has a community of shops alongside the East Coast with areas in Robina, Miami, Benowa and Paradise Level on the Gold Coast in addition to different Queensland shops in Toowoomba, Victoria Level, Maroochydore, Wynnum, Taringa, Loganholme and Chermside.
It has 4 shops in Sydney.
The Flannerys got here to the Gold Coast from Victoria in 1970 with 4 kids.
They opened their first health-food store in Tweed Mall in 1973 after seeing health-food retailers whereas on vacation in London after promoting the caravan park.
The corporate opened shops throughout the Gold Coast and in Brisbane earlier than shifting to a franchise mannequin beneath the management of the Flannerys’ youngest daughter, Genevieve, and her husband, Martin Meek.
Ms Meek informed the Bulletin the household had bought the enterprise when it was in “implausible form” to Tino van Nieuwburg who had bought it on to Pure Grocery Firm.
She mentioned the brand new proprietor had determined to purchase again the shops from the franchisees, a choice she referred to as a mistake.
“We moved to a franchise mannequin as a result of it was laborious to search out retailer managers who had been as obsessed with natural meals as we had been and it labored nice,” she mentioned.
Ms Meek mentioned she hopes the enterprise can commerce its manner out of issues and repay its suppliers, which incorporates her husband who runs United Organics.
“We’re actually, actually involved for all of the suppliers. They’ve been burnt earlier than.”
The administrators of Sydney-based The Pure Grocery Firm Pty Ltd are Sydney residents Paul Wilson and Stephen Parsonage and Brisbane resident Michael Hume.