The Australian master franchisee for multinational discount retailer Miniso has collapsed into voluntary administration after the COVID-19 pandemic saw sales tank in recent weeks.
Miniso Master Franchisee Pty Ltd, the main revenue generating entity associated with Minisos business in Australia, appointed administrators from Grant Thornton earlier this week, owing an estimated $14.6 million to creditors.
The business, operated under a brand license from Hong-Kong based Tabata Holdings, is one of several companies associated with Minisos Australian arm, and is responsible for most of the retailers local leases including support offices in Melbourne and Sydney.
Miniso has 31 trading stores in Australia. However, about a dozen franchises,…
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