Doughnut Time is going into liquidation — despite its new chief executive saying he would buy the company and “turn it around”.
Its workers, who are owed an estimated $200,000 in unpaid wages, have also been kept in the dark.
None of the workers were told by the company’s senior leadership that it had gone into voluntary administration last Friday, and appointed Michael Caspaney, the principal of Menzies Advisory, as its liquidator.
The ABC confirmed this by accessing ASIC’s insolvency notices, followed by a telephone call to Mr Caspaney.
Only told by middle management
Part 1: Email from Doughnut Time state manager informing staff about liquidation (Supplied)
Instead, the workers found out about the company’s liquidation by an email from middle management just before the weekend.
“Today has been the last day of Doughnut Time,” Victoria state manager Vanessa Gaddi-Chmielewski wrote.
“I just received the news from [company chief executive] Dan [Strachotta] that the deal with the new company has been blocked by [founder and director] Damian [Griffiths].
“He will not sign the Doughnut Time trademark to Dan.
“As a result, the entire company will go into liquidation — including the stores that Dan was supposed to take over. The sale has…
