Good chance cookie co can trade out of problems

John Vouris of Lawler partners
John Vouris of Lawler partners John Gass

A MEETING of Byron Bay Cookie Company's creditors has heard that there was a strong chance the business would be sold and trade out of its problems negating the need for more jobs to be lost.

Eight people turned out at Tweed Heads today for the first meeting since the iconic company's manufacturing arm went into voluntary administration on March 7.

Another four participated by phone, including a representative from the Australian Taxation Office which is reportedly owed $1.3 million

Three staff were also present.

Sixteen staff were sacked on March 7, 12 of them locals.

But a further 10 full-time staff in the office and 50 casual factory staff remain.

PWC has been appointed receivers to the Byron Industrial Estate based business.

Administrator from Lawler Partners Chartered Accountants John Vouris, said PWC was trying to sell the business as a going concern.

An advertisement that had been placed for the business in the national media had attracted 30 inquiries, he said.

"I'm very confident that the receivers will get a sale," Mr Vouris said.

Despite the business' financial problems it had a lot of potential, he said.

"It's a good business and it's a good product.

"The operations appear to be efficient and well-managed.

"It's going to be a question of cost."

More than 170 businesses are owed money.

The company also owes $2.7 million to unsecured creditors plus further amounts to its secured creditors and employees.

Topics:  byron bay cookie company

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