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Pie Face chain placed into voluntary administration, hundreds to lose jobs
HIGH-profile investors are eating humble pie after the collapse of one of Australia’s first fast-food chain exports that had promised to take an Aussie food favourite to the rest of the world.
The crumbling of pastry chain Pie Face could see hundreds of workers sacked from as early as next month after the business went into voluntary administration and franchisees were called to an emergency meeting today.
Sources say the business had suffered from “aggressive growth” that saw 78 stores open across Australia and plans for 180 globally.
Just last year, its owners boasted of massive expansion plans, with talk stores to open across the US and spread to the Gulf and the UK.
But last month the business was forced to retreat from its lofty ambitions, closing six of its seven New York stores.
The Herald Sun has been told that store owners received a letter on Friday telling them Pie Face founder Wayne Homschek, a former Citigroup banker, had appointed Jirsch Sutherland as administrators.
Emotions were high during an online phone hook-up with managers and franchisees across the country at 3pm, but the meeting failed to allay concerns about imminent shutdowns.
Owners were told that struggling company-owned sites - about a third of the Australian-based stores - would likely be the first to go.
“These are mum and dad owners - this is their livelihoods on the line,” one person said after the meeting.
“The mood was shock and uncertainty for the future.”
Another source confirmed Victorian staff had not been told of their fate.
One store owner put the chain’s struggles down to the high rate of expansion, poor marketing tactics and a change in consumer tastes as demand grew for a healthier product.
Pie Face was founded in Sydney in 2003 and attracted the backing of high profile investors Brett Blundy, the founder of retailer Brazin, and US billionaire Steve Wynn.
The administrators did not respond to request for comment.
andrea.hamblin@news.com.au
Originally published as Jobs to go as Pie Face crumbles
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新falcon, 新生还是末路？ (2008-6-11) 大球球 
发表于 2014-11-25 12:18
发表于 2014-11-25 14:50
