In the latest news surfacing from the 7-Eleven wage exploitation scandal the big four banks are believed to have stopped lending to new and existing franchisees and the chairman and CEO part ways with the franchise.

Russ Withers, former chairman of 7-Eleven, resigned from the board and Warren Wilmot terminated his duties as CEO. Among the departures have been a few other prominent members of the business such as general manager of operations Natalie Dalbo.

Reports have suggested that it is going to be a difficult task for franchisees to receive loans if the freeze does take full effect, but with such notable departures from senior figures the franchise is looking to right the ship as soon as possible.

Michael Smith has been appointed 7-Eleven’s new chairman with a mandate to amend the franchise’s systemic issues.