Nathans Finance receivers expect a sale of parent company VTL Group’s 24seven Australasian vending franchise business in the New Year.
Nathans was placed in receivership in August, owing $166 million to around 6000 investors.
It is a wholly owned subsidiary of vending technology company VTL which shortly before Nathan’s receivership announced it was insolvent due to a Companies Office investigation of Nathans.
In an update today receivers Colin McCloy and John Waller of PriceWaterHouseCoopers said a number of indicative offers for 24seven Australasia were being considered.
Preferred bidders would be invited to undertake due diligence early in the New Year, with a sale expected soon after, the receivers said.
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