Administrators appointed to a multigenerational family-run food and wine wholesale distribution business that has been operating for almost 70 years are seeking funding to keep the business afloat.
McGrathNicol Restructuring has been appointed voluntary administrators of Gold Coast-based Global Food & Wine (GFW) and four other associated companies.
AT its peak, GFW had warehouses in Brisbane, Gold Coast, Sunshine Coast and Cairns, and had over 100 delivery trucks on the road.
Customers included major franchises, pubs, clubs, cafes, restaurants, 5-star hotels through to small boutique dining destinations.
In a statement, McGrathNicol Partners Anthony Connelly, Melissa Smith and Mark Holland said they were undertaking an “urgent assessment” of GFW’s business.
They said they were working closely with GFW’s employees, contractors, suppliers and other stakeholders to stabilise operations and provide continuity of service for all clients.
“There may be some disruption due to the appointment of the administrators. As far as possible, the administrators currently intend to continue to operate the business of the Companies as it operated prior to the appointment,” they said.
“The administrators are working closely with various…