Qbr:
The core franchise business of Betta Stores Limited (BSL) has been sold as a going concern to BSR Australia Limited, a consortium of senior franchisees within the BSL Group for an undisclosed price.
Receiver and manager of BSL, PricewaterhouseCoopers partner Phil Carter says the deal announced today includes the sale of the Betta Electrical, Chandlers and other brands owned by BSL, and the associated intellectual property, IT system and fixed assets.
The deal does not include the sale of Truscotts Hi-Fi, which is being sold separately as a going concern.
Carter says, “The Betta sale is great news particularly for the network of Betta and Chandlers franchisees and the staff of BSL’s Brisbane based office. The majority of staff will be offered new roles with BSR.”
“In less than a month we have negotiated a deal that delivers the best outcome for everyone involved.
“I congratulate the consortium on the deal and wish them well for the future.
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