Nando's franchise in liquidation

MATT NIPPERT
Last updated 17:27 25/03/2014

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The master New Zealand franchise for Portuguese-chicken restaurant chain Nando's has been put in liquidation.

The move to appoint liquidators Gary Whimp and Derek Ah Sam, of Rogers Reedy, to Shivram, the company that had owned the master franchise for New Zealand since 2006, is understood not to affect 31 individual Nandos stores across the country.

Shivram, directed and owned by Shailen Ramjee, ran into financial trouble in November last year when the business' bankers, Heartland, appointed receivers, William Black and Kare Johnstone, of McGrathNicol.

Ramjee told BusinessDay he was unable to comment.

"You'll have to talk to liquidators," he said.

According to Black and Johnstone's first report published in February, Shivram has been in breach of banking covenants and Heartland Bank was owed more than $1.58 million.

The report also said Shivram had fallen behind in royalty payments due to Nandos Australia, the operator of the franchise across Australasia.

The receivers' report said they were endeavouring to sell the business, and said a "number of offers to acquire the business have been received".

A spokeswoman for McGrathNicol said an update on the sale of the New Zealand master franchise would be provided on Thursday.

The appointment of liquidators had not affected the business, which was continuing to trade as normal under the control of receivers, she said.

Founded in 1987 in South Africa, Nando's casual dining restaurants famous for their peri-peri chicken have expanded to include more than 1000 restaurants in 24 countries.

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- Fairfax Media

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