Jirsch Sutherland announces closure of Pie Face stores
Jirsch Sutherland, Administrator of Pie Face Holdings Pty Ltd, Pie Face Franchising Pty Ltd and Pie Face Pty Ltd, has announced the closure of 18 company-owned Pie Face stores, following its assessment of the company’s financial position.
Eighteen company-owned Pie Face stores are being closed (eight in NSW, five in Victoria, three in Queensland and one in Western Australia), in addition to two franchised stores.
"There has been some necessary rationalisation, and as a result of these closures, approximately 130 part time employees will have their employment terminated,” says Sule Arnautovic, managing partner of Jirsch Sutherland and Joint Administrator of the Pie Face companies.
"The closures and terminations are being made in order to preserve the ongoing business.”
Twelve Pie Face stores will continue to trade on a business as usual basis and, at this stage, 39 franchises are also continuing to operate.
Jirsch Sutherland partners Sule Arnautovic and Rod Sutherland were appointed as Joint Administrators on Friday 21 November 2014.