Pie Face closes stores after voluntary administration

Closes stores in New South Wales, Queensland and Victoria.

According to a story published by the Sydney Morning Herald, eighteen company-owned stores are being closed and two franchised stores, administrators Jirsch Sutherland confirmed on Friday, causing 130 part-time employees to lose their jobs. The losses are from NSW (eight), Victoria (five), Queensland (3) and Pie Face's sole store in Western Australia. With 20 stores confirmed to be closing, there are just 52 stores left in Australia.

Pie Face's final debt load has not been confirmed, although one estimate is $15 million, including a $7 milion debt to the Tax Office, plus suppliers. It's unclear how much Pie Face owes in employer superannuation.

Click here to read the full story at Sydney Morning Herald

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