Yeah it was a shocker,I can't understand how the ASX/ASIC can allow them to stay in business? Millions in acknowledged liabilities and no cash, and most of the so called assets are tainted.
I notice two of the local Kenny's Cardiology stores have closed last month, not company owned but the franchisees have lost done their money. It would be interesting to know who's liable for the remainder of the leases, the Franchisee or ABQ.
However a Baskin Robins store opened in an absolute shocker of a location a few months back and the franchisee is doing it very tough .... ABQ don't care and are in the process of opening another store in my neighbourhood. I would really like to get in touch with the sucker they found for that location because they are also going to lose their money.
You can't set up an Ice-Cream store in suburbia and expect to have enough customers come through the door keep the business viable.
ABQ Price at posting:
40.5¢ Sentiment: Sell Disclosure: Not Held