From : smartcompany.com.au
By : Yoloanda Redrup
The Hard Rock Cafe franchises in Australia have been purchased by serial entrepreneur Jeff Beaumont, saving the well-known cafes from financial ruin.
Beaumont has purchased the cafes currently in operation in Sydney and Surfers Paradise after they were placed in voluntary administration in June this year with a debt of $4 million, but the entrepreneur has plans to open a new cafe at Sydney’s Bondi Beach, according to reports.
Accountancy firm Cor Cordis was appointed as administrator in June, but the administrators were unable to comment prior to publication.
The purchase of the business by Beaumont was confirmed to SmartCompany by a current Hard Rock Cafe employee in Sydney, but Beaumont is yet to respond to interview requests.