Australian food retailer SumoSalad has placed itself into voluntary administration in order to give the company some breathing space and help the owners restructure the business.
In a statement, the company revealed its management had placed the company into administration as part of a long-term strategy to restructure and extend the brand. However they stressed it was business as usual for the SumoSalad group of companies, with its 85 stores continuing to trade over the restructuring period, which is expected to take between 35 and 60 days.
SumoSalad chief executive officer Luke Baylis said in a statement SumoSalad is, in fact, growing in terms of retail sales, but legacy issues have presented challenges.
The business has some …
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