Sale of Max Brenner Australia falls through

The chocolate cafe chain's liquidators say they did not enter the publicised transaction with investment firm Tozer & Co.

It is "business as usual" for Max Brenner's remaining stores in the country as its sale to Tozer & Co will not go ahead according to BDO Australia.

In a statement sent to QSR Media, BDO says they "explored a transaction" with the investment firm Tozer & Co relating to the trading of the business and the acquisition of Max Brenner in Australia but says such transaction has "not been entered into."

“We will continue to trade the Company whilst we explore options with the licensor, Max Brenner Industries Ltd, regarding the Max Brenner brand in Australia," BDO’s Andrew Sallway said in the statement. "Today it is business as usual.”

The news comes a day after news broke that the chain, which went into voluntary administration earlier this month and closed 20 of its outlets, had been supposedly salvaged from liquidation by investment office Tozer & Co after acquiring its license.

Tozer & Co previously said that they were seeking to finalise a transaction over the coming months.

Receivers appointed
A spokesperson at Ferrier Hodgson also confirmed that Stephen Parbery and Peter Gothard have been appointed as receivers over some assets owned by Max Brenner Australia.

“Stephen Parbery and Peter Gothard have been appointed as receivers over plant and equipment, the choses in action and the books and records. They have not been appointed over the entire business, it is a partial appointment only; the liquidator remains responsible for the business. They are still assessing the position and have no further comment at the stage,” the statement read.