Appointed administrators McGrathNicol yesterday held the first creditors meeting in Sydney since the company’s partial collapse late last month.
Appointed administrators McGrathNicol yesterday held the first creditors meeting in Sydney since the company’s partial collapse late last month.

Hope for Max Brenner as offers come in

ADMINISTRATORS of chocolate cafe chain Max Brenner are assessing about 40 offers from interested parties to purchase the embattled company's remaining operating sites, in what could be a lifeline for the flailing company.

Appointed administrators McGrathNicol yesterday held the first creditors meeting in Sydney since the company's partial collapse late last month.

A spokesperson said the administrators would asses the offers which have been put forward, some from major hospitality chains, with a decision potentially to be announced in the coming days.

The creditors meeting also confirmed reports that hundreds of employees were owed wages and entitlements by the company, with many former staff owed well into the thousands of dollars.

 

On September 30 Max Brenner, which at the time had about 600 staff, was placed into voluntary administration following a directors resolution due to "escalating costs and tighter retail trade".

On October 8, 20 of Max Brenner's 37 Australian stores shut their doors permanently, including nine in Queensland, with those staff left unemployed.

Three Queensland stores - Southbank, Surfers Paradise and Robina - remain open.

Since news of Max Brenner being placed into voluntary administration hit, multiple former employees have contacted the media to express their distress at the situation.

Some have made allegations of a "toxic" working environment, where staff were often paid late, forced to work long hours alone and make dash trips to supermarkets for ice-cream when supplier accounts were cut off.



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