Voluntary Administration Hits Retail Franchise Chain

Franchising.net.au:

Franchisees in the retail franchise chain Samsara are continuing to trade and are not in administration, despite administrators being appointed to three of the companies associated with the Queensland business.

A creditors meeting held 2 June showed debts of $2.2million for the company; approximately $1.3m secured debt; about $800,000 in unsecured debt; and employee entitlements of about $100,000.

The three companies in voluntary administration are Samsara Wholesaling Pty Ltd, Samsara Furniture and Homewares Pty Ltd and Samsara Licencing Pty Ltd.

Samsara’s warehouse and only company-owned store are at Burleigh heads. More.