Chinese variety store Miniso’s local business has called in administrators for a second time as customers pull back on spending amid the ongoing cost of living crisis that has claimed businesses from both the big and small end of town. Miniso Master Franchisee, which underwent a restructure in 2020, appointed insolvency firm Jirsch Sutherland’s Melissa Lau, Andrew Spring and Peter Moore as administrators on May 13. Miniso has appointed administrators for a second time.
Credit: Ben Rushton “The business has suffered from all the normal market forces over the last few years, whether that be labour costs, supply chain issues, rising cost of living and inflationary pressures on discretionary spending – it’s all there,” Spring said. The administration impacts about 140 employees from 21 stores across Australia, 13 of which are corporate and eight of which are joint venture stores. A further 18, operated by franchisors, are not under Jirsch Sutherland’s control, but are indirectly impacted by the future of the master franchisee.
The stores under administration include Burwood, Castle Tower, Galeries, Parramatta, Rhodes, Sydney Central, Top Ryde, and Hornsby in NSW; DFO South Wharf, Highpoint shopping centre, Spencer Outlet, Northland and Box Hill in Victoria; Pacific Fair in Queensland; and Westfield Carousel in Western Australia. Loading Almost all have continued trading as normal. The administrators are in talks with the Guangzhou-based parent company to see if it c.
