Jones the Grocer has been placed in voluntary administration, just days after Inside Retail PREMIUM exclusively reported its head, John Manos, had resigned.
Jason G. Stone, Glenn J. Franklin, and Petr Vrsecky of PKF Lawler Melbourne were appointed administrators of the company’s Australian operations on December 12, which includes four Jones the Grocer stores, Senselle Foods, and Sydney-based businesses Charlie & Co and Becasse.
It is understood the company employs around 200 people.
A spokesperson from PKF Lawler Melbourne told Inside Retail PREMIUM Australian stores will continue to trade as normal.
In a statement, John Manos said he was disappointed that the Australian operations of the food wholesaler and upmarket food chains had been placed in voluntary administration.
“Most recently there has been a difference in vision at board level for the group going forward, which has affected the strategic approach of the group,” Manos said.
“We built a very successful business, between 2005 when I bought the business and 2012, growing both within Australia and internationally, including opening stores in Asia and the Middle East and operating successful food wholesaler, Senselle Foods. LCapital Asia’s majority investment in 2012 was intended to provide a platform for further growth,” Manos said.
“I am now focused on finding a solution to these differences with LCapital Asia, so we can maximise the value for all our stakeholders, including long term customers, suppliers and staff.”
Last week, internal sources told Inside Retail PREMIUM Manos had taken over Jones the Grocer’s 11,000sft site in New York as part of Westfield’s World Trade Center development after resigning as director of the company.
Manos is expected to open a new retail concept at Westfield’s World Trade Center.
LVMH Group’s Singapore-based, L Capital Asia acquired a 50 per cent stake in the gourmet grocer in 2012.
At the time the private equity firm said the investment would assist with upmarket retailer’s international expansion.
Jones the Grocer was founded in 1996 has around 20 stores, four in Australia and around 15 across New Zealand, Qatar, Singapore, and United Arab Emirates.
A creditors meeting will be held on December 24.
