More BBQ Factory closures

Unconfirmed reports today suggest the BBQ Factory is closing almost half of its remaining 12 outlets in New Zealand.

A staff member told nzherald.co.nz that five more stores closed yesterday.

This follows the previous closure of seven stores over the last 24 months.

BBQ Factory stores at New Plymouth, Invercargill, Hastings, Palmerston North, Nelson, Taupo and Timaru shut up shop some time ago.

Now, this latest restructure will leave just seven stores remaining, mostly in the upper North Island and selected other main centres.

The brand has been struggling since Hellaby Investments bought the business for $25.6 million back in 2004.

Hellaby owns other iconic retail businesses as well, including Number 1 Shoes.

The barbecue side of the business, however, was a continuing headache for its owners, who frequently had to write down large losses.

Hellaby offloaded it to a consortium led by Auckland-based private equity firm Capital Group about a year ago.

- NZHERALD STAFF