The Australian arm of international chocolate chain Max Brenner, which opened an Adelaide store in Rundle Street just under two years ago, has gone into voluntary administration.
Partners from Sydney-based firm McGrathNicol have been appointed voluntary administrators of the business, and said Max Brenner Australia’s 37 stores across the country would operate “on a business-as-usual basis with minimal disruption” while they completed an urgent review of the operations.
“Escalating costs and tighter retail trade” were cited as the reasons for the collapse, McGrathNichol said in a media release.
“We are assessing the prospects of completing a going concern sale of the business or a recapitalisation through the Voluntary Administration process,” it added.
Read the full article by Suzie Keen at InDaily.