All Doughnut Time stores will close for good as a liquidation process begins for the troubled food business, amid warnings from insolvency experts that thousands of other businesses are at risk of imminent collapse.
Doughnut Time was founded in 2015 by Damian Griffiths, who had built up a network of 30 stories selling gourmet doughnuts before 23 of those stores closed at the start of March.
At the time, the former chief executive of the company, Dan Strachotta, was reportedly in line to purchase the seven remaining stores. That deal came as staff complained of unpaid wages and Griffiths revealed he was facing significant personal financial challenges, according to Fairfax. I had a go and made lots of mistakes, he said at the start of…
Read the full article at: https://www.smartcompany.com.au/industries/retail/doughnut-time-liquidation-staff-wages-other-retailer-risk/