Miniso Australia in financial turmoil after master franchisee collapses, owing $14.6 million – SmartCompany.com.au

The Australian master franchisee for multinational discount retailer Miniso has collapsed into voluntary administration after the COVID-19 pandemic saw sales tank in recent weeks. Miniso Master Franchisee Pty Ltd, the main revenue generating entity associated with Minisos business in Australia, appointed administrators from Grant Thornton earlier this week, owing an estimated $14.6 million to creditors.…