IGA stores up for sale as franchise director’s company goes bust

Several IGA supermarkets face an uncertain future after the man responsible for Carl’s Jr in Queensland put one of his companies in liquidation.

THE man responsible for bringing American food giants Carl’s Jr and Cinnabon to Queensland will sell several of his IGA stores after they were placed in liquidation.

Staff at IGA supermarkets at Goodna in Ipswich and Boronia Heights in Logan face an uncertain future after Om Mahalaxmii Pty Ltd, the franchisee, went bust on September 27.

According to ASIC documents the company also lists IGA West Ipswich, Brassall, Fortitude Valley, two at South Brisbane and Douglas, near Townsville, as its trading names.

Worrells Solvency and Forensic Accountants partner Michael Griffin said the company was only operating two IGA stores, Goodna and Boronia Heights, at the time of its liquidation.

How just two of the company’s eight supermarkets are affected by the liquidation will be probed by Mr Griffin.

“We are continuing our investigations into the affairs of the company and as such am not yet in a position to make comment as to the previous activities of the company,” he said.

The Bansal Group has been responsible for the rapid expansion of Carl's Jr stores across Queensland.

Gaurav Bansal, listed as the sole director of Om Mahalaxmii, could not be reached for comment.

Bansal Group, Mr Bansal and his brother Vishal’s other company, is behind the rapid development of six Carl’s Jr franchises across Queensland.

That company lists 17 IGA supermarkets in Queensland, Western Australia and New South Wales – including five also listed by Om Mahalaxmii – in its portfolio.

Mr Bansal, the Maserati-driving director, has also secured the rights to bring American baked goods giant Cinnabon to Australia.

It is understood Bansal Group is unaffected by the liquidation of Om Mahalamaxii.

Mr Griffin said Worrells was trading on the IGA Boronia Heights until alternative trading arrangements and a sale could be arranged.

Bansal Group owners Vishal and Gaurav Bansal. Pic: Mark Cranitch.

IGA Goodna is being independently operated by a third party ahead of a pending sale.

“We appreciate the impact on the local communities and employees,” Mr Griffin said.

“We are exploring all possible avenues for these businesses.

“We will continue to proactively keep all stakeholders informed about the insolvency administration.”

A spokeswoman for Metcash, the owner of the IGA brand, said it was likely the stores would be sold.

“These stores are independently owned and operated and we are therefore not in a position to comment on their financial position,” she said.

“However, we are in the process of helping to sell their stores to new owners.”

Liquidators or administrators were appointed to 113 Queensland businesses in September.

Read the Courier-Mail’s full list here.