Iconic Aussie business collapses after rescue deal implodes

An attempt to sell the troubled Barbeques Galore franchise has failed months after the Australian retailer collapsed into voluntary administration , with 62 stores expected to close and hundreds of jobs lost. A recapitalisation deal which would have saved the iconic business has fallen through after the sale process did not secure any “offers capable of acceptance or implementation” and the company will be officially wound up on June 16, according to the firm that had led the sale process. It is expected that 62 stores will be closed and the remaining 27 franchise-owned stores will enter discussions about transitional arrangements. Barbeque Galore’s 500 impacted staff will be paid entitlements and benefits and the retailer will honour gift cards until June 30, under the condition that for every $1 redeemed another $2 is spent at the same time. For example, to redeem a $50 gift card, a customer will need to make a total purchase of $150 and $100 must be paid after applying the gift card credit. All stores will trade as normal during the receivership process, professional services firm Ankura, which had led the attempted sale of the business, said in a statement. Cashflow issues forced the company to go into voluntary administration in February. It was hoped Barbeques Galore would find a suitable buyer to keep the national retail network’s doors open. Ankura receivers said it would weigh up selling or restructuring the business and a sale process was kicked off shortly after. Gordon Brothers, the secured creditor, had made a conditional, non-binding proposal to recapitalise group via a deed of company arrangement (DoCA proposal). It was decided the deed would not proceed after it was unable to reach a commercial trading agreement with suppliers. “Following their appointment, the receivers commenced a formal sale process seeking offers to acquire or recapitalise the BBQG Group, including the national network of both the company and franchise Stores,” Ankura said in a statement. “The sale process resulted in a number of expressions of interest and negotiations were entered into with several counterparties. “However, by late May 2026 it had become clear that there were no offers to acquire or recapitalise the BBQG Group capable of acceptance or implementation.”