A whole bunch of businesses linked to the company’s founder are in serious trouble.
Last week, the founder of popular dessert chain Doughnut Time announced the business had run out money and as a result the vast majority of stores would close. In an apparent last-minute lifeline, the former CEO of the company offered to buy the company salvaging the brand and keeping the business alive.
But this week news broke that the sale had fallen through: Doughnut Time went into liquidation last Friday, and all stores will close. Its sad news for doughnut fans, but even sadder news for the companys workers, who are now unlikely to receive thousands of dollars in back pay and entitlements, due to the company being wound up.
The announcement o…
Read the full article at: http://junkee.com/doughnut-time-damian-griffiths/150986
