Max Brenner Has Been Saved From Liquidation in Las...

Max Brenner Has Been Saved From Liquidation in Last Minute Deal

In a last minute deal with Tozer and Co, the chocolate cafe and luxury chocolaterie has been saved after going into voluntary administration last month. Brothers David and Craig Tozer struck a last minute deal with the company to secure the licence for Max Brenner.

Max Brenner Industries ltd. were about to go to the Supreme Court to close the company for good, before the hearing was cancelled shortly before. The Tozer brothers are excited to expand an already popular business.

“In conjunction with the franchisor, we are excited by the prospect of investing, growing and developing a highly successful business,” David Tozer said in a statement.

“The brand has a rich history across the world and also within Australia.”

Australians nearly saw the last of Max Brenner last month when the owners went into administration due to financial problems. In August of this year, the company were in a debt worth $50 million. The original owners, Tom and Lilly Haikin, handed the business over to administrators after months of speculation that the business would be closing down.

Tom and Lilly Haikin. Photo Source: Australian Financial Review

$5.8 million will be paid to staff, with $2.7 million owed to the 250 staff members made redundant at the time of the closure.