NEW STORES OPEN AS NANDO’S SOLD BACK TO AUSTRALIA
3 April 2014 – The Australian master franchisor has bought back the troubled New Zealand master franchise. Unusually, while the business was in receivership, two new stores opened.
Kare Johnstone and William Black, the Receivers of Shivram Limited (Shivram), the franchisor of Nando’s New Zealand, confirm that the master franchisor for Nando’s New Zealand, Nando’s Australia Pty Limited, has exercised its rights to purchase the business and assets of Shivram. This includes the master franchise agreement for the operations of Nando’s New Zealand.
Commenting on the sale, Kare Johnstone said, ‘Immediately following our appointment as Receivers we prepared the business for sale and commenced a sale process for the business and operations of Nando’s NZ. We are pleased to confirm that the sale process has now concluded and that a key milestone has been achieved to transition the business to the master franchisor, Nando’s Australia.’
Craig Mason, Managing Director of Nando’s Australia, said, ‘The company is looking forward to working with the existing franchise partners to help Nando’s reach its full potential in New Zealand. We are fully committed to the Nando's brand and plan to invest significantly in its future success.’
The Receivers are continuing to operate the company on a ‘business as usual’ basis until the transition to Nando’s Australia is completed.
The Receivers are also pleased to confirm that the 34th and 35th Nando’s restaurants (in NZ) have recently opened. Ms Johnstone said, ‘Since our appointment, we have been working closely with the Nando’s Ashburton and Takanini franchisees, together with Nando’s Australia, to complete the development of the Nando’s restaurants and we are very pleased to confirm that two new Nando’s restaurants have now opened in Ashburton and Takanini.’
Shivram was placed into liquidation on 21 March 2014. The appointment of liquidators is to Shivram only and not to the individual franchisees, which are owned by parties separate to Shivram. The business of Nando’s NZ is continuing to operate and is not impacted by the liquidation.
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