THE company once overseeing brands including the New York Slice pizza chain and Mexican fast-food outlets has plunged into administration, amid a festering lawsuit and complaints about the Brisbane-based franchise operation.
Administrators from GM Insolvency were appointed on Wednesday to Franchise Retail Brands, which owes more than $500,000. Shareholders who invested almost $5.3 million could face losses.
“It took me four years to build this business and six months (for them) to kill it,” said Todd McGregor, who sold his New York Slice franchise operation to Franchise Retail last year.
Franchise Retail started in 2016, pledging to help in areas that small businesses struggle, such as in marketing or legal work.
Read the full article at: https://www.warwickdailynews.com.au/news/franchise-retail-brands-in-administration-sharehol/3319251/