The BBQ Factory chain is now in receivership after a 'bad winter.' Photo / File
The BBQ Factory chain is now in receivership after a 'bad winter.' Photo / File
The BBQ Factory is in receivership.
Receiver Shaun Adams of accounting firm KPMG was appointed at around lunchtime today after a private, secured creditor called in a loan, which was understood to be under $5 million.
The business, which sells barbecues and woodburners and which was once owned by thelisted investment company Hellaby Holdings, has had a troubled past.
Hellaby sold the business in 2008 but not before writing down the value of the BBQ Factory by $18.8 million.
The business is owned by Mark Flaherty, who was part of the BBQ Factory's management team when it was owned by Hellaby Holdings.
The BBQ Factory has eight stores, all of them in the North Island. The company's two largest stores are in Auckland.
Adams told APNZ that the company would probably not trade its way out of its difficulties.
He said it had been a bad winter for the BBQ Factory, which relies on sales of woodburners during the winter to tide it over until the summer barbeque season.