Signarama Australia is looking for a new owner for its Pakenham VIC franchise after the business this week decided to call in an external administrator. “Victoria was hit pretty hard over the past 12 months."
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| Signarama Packenham, 7 Bald Hill Rd, Pakenham VIC 3810 |
According to an ASIC notice, Orzora Pty Ltd - Trading name: Sign A Rama Pakenham - appointed administrator Brendan Nixon of SM Solvency Accountants in Brisbane on Monday.
Owner/director Anthony Dissanayake had run the sign franchise business for eight years, most recently with a staff of three, including a production manager and installer.
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"Victoria was hit pretty hard over the past |
The head of Signarama Australia, Evan Foster, told Wide Format Online the move is related to lockdown restrictions imposed in Victoria over the past year.
“It’s partly Covid-related,” Foster said. “Of course, Victoria was hit pretty hard over the past 12 months. All of our franchisees down there have been incredibly resilient over the various lockdowns that they’ve had. We’re seeing excellent numbers coming out the other side of the pandemic.
“We’re confident that we’re going to have a new franchise owner operating the business imminently. We’ve had a strong start to the year all across the country and we’re really optimistic about our prospects in 2021.”
A first meeting of Signarama Pakenham creditors has been called for next week:
Location: SM Solvency Accountants, level 10/144 Edward Street, Brisbane QLD 4000
Meeting date: 10 March 2021
Meeting time: 10:00 AM AEST / 11:00 PM AEDT
Creditors wishing to attend are advised proofs and proxies are to be submitted to the administrator by 4:30 PM (AEST), 09 March 2021. Contact person: Dikesh Bulsara 07 3308 4916, Email: d.bulsara@smsolvency.com.au
Signarama is Australia's largest sign franchise company, with over 100 locations across Australia.
