Max Brenner pulled from the brink in last minute deal

Chocolate chain Max Brenner has been saved from going under at the last minute.

The café chain has been saved from liquidation by investment office Tozer & Co. who struck a deal last night to acquire the licence for Max Brenner’s Australian business. 

“In conjunction with the franchisor, we are excited by the prospect of investing, growing and developing a highly successful business,” David Tozer said Tozer & Co told Fairfax. “The brand has a rich history across the world and also within Australia.” 

The chain’s remaining 17 stores were facing uncertainty after the owners of the business halted the Australian licensing agreement and called in liquidators. 

The chain’s downfall was blamed on a number of factors, one of which as an expensive renovation of the company’s head office in Sydney. There are also reports the company stopped paying staff superannuation for the last half of 2016. 

Founders Tom and Lilly Haikin made BRW’s Young Rich list in 2013 with a fortune of $40 million.

Sheridan Randall, 18^th October 2018