https://www.9news.com.au/national/nike-shuts-multiple-stores…
All Nike stores run by AF1 in Sydney were abruptly closed on Friday. There are still Nike stores operating, such as those run by another franchisee RPG and also the Nike outlets.
What do you think was the reason for the closure? Nike is no longer appealing to population? Franchisee mistake?
And what will happen to the stock? Will they be sold to the RPG Nike stores or the outlet stores?
Yes they - Just Did It
TL/DR
Franchisee robbed Peter to pay Paul and now Peter's asking for it back.
What do you think was the reason for the closure? Nike is no longer appealing to population? Franchisee mistake?
Franchisee did something so dodgy either with his dealings within his Franchises or in dealings that had nothing to do with his Nike franchises resulting him finding himself in very deep doo doo, potentially, even with ATO, and is now in a position to require receivers be appointed to sort his shit out.
I reckon franchisee used projected franchise funds to finance (or as security) other business agreements on a promise of money that he never had and now has nothing with which to meet those agreements preventing him from even meeting those obligations that he has to the franchiser
damn! i'm starting to wonder whether the nike slides i bought recently are real
And what will happen to the stock?
probably end up on kogan …
These stores never had customers or staff. Always empty
The article you linked tells you why.