RFG takes back control of Gloria Jean's NZ

posted on 19th October 2017

Retail Food Group has taken back control of Gloria Jean's Coffee in New Zealand after master franchisee Boost Group was put into liquidation by shareholder Eric Chase. Mr Chase has alleged 'numerous discrepancies' in the way the finances of the company had been represented by a previous owner, a company with links to politician and former Auckland mayor John Banks.

There are some 12 Gloria Jean's cafes in New Zealand, which had operated under the umbrella of Auckland-based Boost Group. In September, Boost was put into receivership by GJ New Zealand Holdings, which had provided vendor finance to Boost when it sold it the NZ master franchise. Boost was subsequently put into liquidation by shareholder Eric Chase, Companies Office records show.

Retail Food Group (RFG) "owns the global rights to Gloria Jean's so we still own and operate the brand even if Boost is in liquidation," a company spokeswoman said. "All our partnerships are working as usual" and RFG is currently seeking a new master franchise owner. The Gold Coast-based company has hired someone to run day-to-day operations in New Zealand, she said.

Read more at http://www.sharechat.co.nz/...

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