Your favourite brunch place Jones the Grocer can no longer afford to keep up with the Joneses — and is now up for sale.
After a three-month attempt by a High Court-appointed judicial manager to implement cost-cutting measure, the Australian gourmet food company has been put up for sale.
PricewaterhouseCoopers, which has been put in charge of the business in March after the restaurant was declared insolvent, has placed advertisements asking interested parties to bid for its acquisition, according to a news report. The deadline is May 22.
There are currently two Jones the Grocer restaurants in Singapore: its flagship branch in Dempsey Hill and another outlet at Mandarin Gallery.
“The business of Jones the Grocer could be profitable once the cost-cutting measures are fully in place and effective and further best practices are implemented,” the judicial manager assured in a statement.
Photo via www.asia-bars.com
