MissChu Is Wresting Her Business Back From Administrators
Looks like Chu's out of the water, with big, big plans.
Misschu is back. Well, almost. Queen of rice paper rolls Nahji Chu, with a big leg-up from the Mawson Group, has rescued misschu from administration.
"I've got a small equity share, which is better than nothing," Ms Chu told Good Food. Dealing as MissChu Holdings, Chu and the Mawson Group plan to open fifty misschu stores across Australia over the next five years. Yep, fifty. Meanwhile, all six eateries currently operating in New South Wales will stay on track, meaning 110 employees will hang onto their jobs. Win. While Mawson will provide expertise in business admin and expansion, Chu will take care of creative direction and continue to work full-time as catering manager.
According to Good Food, there have also been initial chats about expanding beyond tuck shops. For a start, Sydney might be gaining a misschu Vietnamese restaurant that caters to the mid-range market.
"Relieved and exhausted are two understatements running through my veins as I deliver this news," Chu announced on the MissChu Facebook page. "Quality control of the products and getting back to the heart of the business is my main focus. It's important to me that misschu has consistency across the brand.
"I will continue misschu as a platform for public discussion about the real issues that confront our collective future; the plight of the world’s dispossessed, the delivery of affordable nutritious food, creativity and innovation — because without it we will not socially, economically or politically evolve in a progressive way. I stride, a little wiser, into the second chapter of the misschu story with honest and professional help in tow."
MissChu, which, at its most profitable, turned over $20 million a year, went into voluntary administration in December 2014, with Rahul Goyal and Janna Robertson of Korda Mentha taking charge of the books. In January 2015, the London tuck shop closed and sixty workers lost their jobs. "In hindsight, I wouldn’t have opened in London," MissChu told Good Food.
Ms Chu fought passionately to save her business, gaining traction with a #weneedchu campaign across social media. More than sixty expressions of interest were received. Looks like Chu's out of the woods.
Via Good Food and Smart Company.
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