The trustee appointed to oversee the bankrupt estate of Doughnut Time founder Damian Griffiths says the Australian Taxation Office (ATO) is owed $1 million and other creditors have contributed to loans in the vicinity of $2 million.
Raj Khatri of Worrells Insolvency confirmed this afternoon he has been appointed by debtors petition to oversee Griffiths bankrupt estate.
Griffiths is the entrepreneur behind Doughnut Time and a number of businesses in Fortitude Valley in Queensland, including Les Bubbles, Alfred and Constance, and Limes Hotel.
Doughnut Time entered liquidation last week and reportedly owes employees an estimated $200,000 in unpaid wages, according to the ABC. Employees were left in the dark up until the last minute…
Read the full article at: https://www.smartcompany.com.au/finance/doughnut-time-founder-owes-ato-1-million/
