SumoSalad sends 85 stores into administration
85 SumoSalad stores have been placed into administration.
Founder Luke Baylis placed some stores into administration last year due to landlord disputes.
The group yesterday appointed Peter Gothard and Morgan Kelly from financial advisory and restructuring firm Ferrier Hodgson as administrators.
The problem for many of the franchises is while they quickly strike success, it doesn’t last long.
“More competition comes through the door, there’s problems in terms of foot traffic while they’ve having to pay more in rent they can’t negotiate,” says Ross Greenwood.
Anthony Herro from Herro Solicitors tells Ross Greenwood “it’s not level playing field” for small business owners and big shopping centre bosses.
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