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Australian chocolate chain Max Brenner has gone into voluntary administration, the Sydney Morning Herald reports.
Max Brenner is citing rising costs and sluggish retail trade behind its collapse.
McGrathNicol, which was appointed administrator on Sunday by company directors, said Max Brenner’s 37 stores would continue to trade as usual while it completed an urgent review.
McGrathNicol said it was assessing the prospect of selling Max Brenner as a going concern or recapitalising the business, which has about 600 staff and is headquartered in Alexandria, Sydney.
There are currently 15 stores across NSW, 12 in Queensland, five in Melbourne, two in the ACT and Western Australia, and one each in South Australia and the Northern Territory.
The Max Brenner brand was created by husband and wife team Tom and Lilly Haikin in 1994.
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