- Max Brenner Australia is in voluntary administration.
- It has 600 staff and 37 stores in Australia.
- McGrathNicol is assessing the prospects of completing a going concern sale of the business.
Chocolate and coffee chain Max Brenner Australia has gone into voluntary administration.
McGrathNicol partners Barry Kogan, Kathy Sozou and Jason Preston have been appointed administrators.
Max Brenner Australia, owned couple Tom and Lilly Haikin, has 600 staff and operates 37 company owned stores with a distribution centre in Alexandria, Sydney.
All stores will operate on a business as usual basis while the administrators complete their urgent review of the operations.
“We are assessing the prospects of completing a going concern sale of the business or a recapitalisation through the Voluntary Administration process,” the administrators say.
“Employees are asked to continue with their normal duties.”
The Australian chain is a separate entity to Max Brenner in the US, Israel, Singapore and the Philippines.
Tom and Lilly Haikin, said to be worth $40 million in 2013, earlier this year were reportedly looking at expanding the business.
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