PostNet Australia in administration
The print, courier and mailbox franchise business PostNet Australia is in administration.
The administrator told Inside Franchise Business it is business as usual for the company.
Corporate restructuring firm Mackay Goodwin has been appointed administrator of PostNet Australia Pty Ltd. On 3 June 2019 Mackay Goodwin posted a combined notice of appointment and first meeting of creditors of company under administration notice to the Australian Securities and Investment Commission.
Grahame Ward at Mackay Goodwin is conducting an Expression of Interest campaign to sell the master licence. The administrator indicated there is currently sufficient interest to ensure the business will continue either with the present management or an alternative party.
PostNet Australia holds the master franchise rights for Australia and has outlets in Brisbane, Melbourne, Perth and Sydney. There are 15 stores listed on its website.
The PostNet brand began in the US and has been franchising since 1993. It has 750 locations across nine countries. PostNet Australia Pty Ltd was incorporated on 15 May 2007.
The business provides full-service digital printing and finishing services.
Two years ago the global MailBoxes Etc business acquired the PostNet International Franchise Corporation.