Solo sailor Jessica Watson’s food supplier Easy Meals placed in administration

Russell Emmerson
August 14, 2012
National Features

THE franchise system that reportedly helped feed teenage solo sailor Jessica Watson in her global adventure has fallen into deep water.

Queensland-based Easy Meals was placed in administration last week but McGrath Nicol partner Jamie Harris said he was still investigating reasons leading to the collapse.

“I am currently undertaking an urgent appraisal of the company’s activities to understand the best course of action to preserve the company’s assets,” he said.

That investigation is likely to include the question of whether the company should continue to operate as a franchise system or whether its collapse was based on an unsuccessful product – packaged meals requiring minimal reheating.

The company is understood to have 56 franchisees operating 100 shopfronts across every state and territory.

It is also believed to have more than 25 employees – although Mr Harris said he is still investigating whether some staff are properly classified as employees or franchisees.

Directors Andrew and Matthew Edwards established the company in July 2010 but changed it to a public company in March 2012 – a key step toward raising money from the public.

It had already raised more than $1.5 million from its shareholders before its collapse, including $650,000 in only three transactions two months ago.
Neither director returned calls in time for publication.