Shares in Retail Food Group tumbled more than 23 per cent after the consumer watchdog flagged it is suing the company and five of its related entities in Federal Court for allegedly lying and ripping off its franchisees.
The ASX-listed company is the name behind well known brands including Michel’s Patisserie, Brumby’s Bakery, Donut King and Gloria Jean’s Coffee.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
