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7 Jun 2020 20:08
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  •   Home > News > Business

    Restaurant franchise Wagamama owes nearly five-million-dollars to creditors, including former staff left out of pocket

    Restaurant franchise Wagamama owes nearly five-million-dollars to creditors, including former staff left out of pocket


    The global franchise, which served Asian-inspired food, was forced to shut up shop in New Zealand in July after the local company that owns it went into liquidation and receivership.

    The first report from the liquidators put the failure down to an unsustainable business model and several restaurants performing below expectations.

    Total debts owed across the four restaurants in Newmarket, New Lynn, Sylvia Park, all in Auckland, and in downtown Wellington and the parent company - WNZ Limited - amounted to 4.83 million dollars

    © 2020 Newstalk ZB, NZCity


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