Just four months after going into administration and liquidation, new owners have announced the revival of Doughnut Time under new owner Pete Andros, with the first stores to relaunch August 1.
A post on the company’s Facebook page earlier this week noted the brand was coming back and would be “bigger and better than ever”, promising vegan, gluten free, high protein and ketogenic options; as well as original favourites.
The company has confirmed eight new stores will open over the next two months, with locations at The Myer Centre and South Bank in Brisbane cited, as well as Degraves Street and Fitzroy in Melbourne and Burleigh Heads on the Gold Coast.
“To answer some of your questions: Doughnut Time is under completely new ownership and management [and] we think what happened to past employees is unacceptable,” the company said in a Facebook comment unveiling the revival, encouraging “any previous workers who have not yet done so to reclaim unpaid wages by contacting the Department of Jobs and Small Business.”
The company entered liquidation in March after a failed attempt by former chief executive Dan Strachotta to purchase the company from founder Damian Griffiths.
“I was one of those people standing in line for fresh doughnuts,” said new owner Andros in a media release sent to Inside Retail.
“When Doughnut Time went under, I saw an opportunity to save a great Brisbane-born brand.”
The business will have a completely new structure, with three directors; Andros, an Australian business partner and a US based business partner; nobody from the previous ownership is involved with the relaunch.
With a background in fitness and health food products, and over 10 years experience working with food brands both in Australia and abroad, Andros is confident he can restore Doughnut Time to the “local success story it once was”.
“The same fitspo crowd that love my health food products also seem to relish Doughnut Time,” he said.
“Life is all about balance, and knowing when to indulge a little.”
Source by Dean Blake – Inside Retail Asia.