Esteemed Australian publication SMART COMPANY has named their "Best and Worst of 2010".
It is with great pride and humility that ALLIED BRANDS LTD. is awarded the coveted "WORST COMPANY OF THE YEAR".
In the words of Smart Company:
"The collapse of Allied Brands was one of the sorriest tales to come out of the franchising sector in years. This was a company that had it all – poor management, lax financial discipline, an uncanny ability to over-promise and under-deliver and even an immigration rort. While the company finally went into administration in late October, the jig was really up in late September, when the company’s Cookie Man chain was placed into liquidation by the NSW Supreme Court. Incredibly, Allied Brands claimed it didn’t even know about the liquidation until after it happened, and so wasn’t in court for the hearing."
While clearly this kind of achievement can't be accomplished alone, we must recognize the architects of such a prestigious achievement:
LACHLAN MCINTOSH: The Korda Mentha liquidator/director who was the principal architect of the plans that ran ABQ into the ground, Korda Mentha is so embarrassed and disgusted with his actions they've removed his CV from their website and disavow any knowledge of him. McIntosh is now busy driving other companies into a ditch - his management of the Eureka Group (EGH) is planning to embark on the same franchising strategy that was so successful at Allied Brands!
SEAN CORBIN: A CFO plucked from obscurity by the team in order to "take the fall". With his background of failed companies, he's the Lee Harvey Oswald of financial directors. His career should be well and truly over.
SHANE RADBONE: Ex-athletes are generally good for nothing in business. Radbone proved this time and time again, all the while relentlessly promoting his "successes". Just prior to ABQ he spent six months as CEO of VIP Home Services before the owners there figured out he was Trouble. He spent all his ABQ-paid time spruiking his overhyped CV and arranging "motivational speaking engagements". The ultimate in ABQ window dressing, most directors were stunned when Radbone give himself and wife Victoria Elise a sweetheart loan for shares that are now all but worthless. The Radbone's still refuse to pay up, over $750,000.00! Can someone get some dosh out of the Radbones?
PETER ELLIGETT: Selling Cookie Man to Allied Brands was supposed to be Elligett's cash-out of the Cookie Man business he had been running smoothly. However he's now considered a major player in the Korean/Indian 457 Visa Scam, with dud Cookie Man shops being involved and Elligett's grubby hands all over the dodgy deals.
PETER GRAHAM: Ex-motel owner has a brainstorm on a trip to the USA, let's get Baskin Robbins to give us the Aussie licence. Without even checking him and his slimy brother David out, they grabbed this potential goldmine and then spent 15 years doing what they thought best - screwing the franchisees, the people at the coalface. And let's not forget all the other Graham children who were educated in the "Graham Way" before becoming disgusted with their own parents for pissing away their planned million$$ in inheritance. The Grahams can't even show their faces around their tony Gold Coast friends anymore, they're outcasts and laughingstocks.
Finally, a prestigious award like this shouldn't forget the "little people" who made it all possible. Tony Cavanagh, fired from one ice cream company, his dodgy methods fit right in with the McIntosh/Graham management direction. And let's not forget the employees who've launched sexual harassment and other charges against the "little people". Then two victims of the scam that should have known better - Tom Krulis, formerly "Godfrey's CEO", and Barbara O'Brien, from the Breville family. No one knows what kind of lies these suckers fell for.
As we go into 2011, we're all hoping to start seeing charges lodged against these criminals thanks to the support of publications like Smart Company, Blue Mau Mau, and the Australian Securities and Investment Commission. And let's say a prayer for the dozens, yes DOZENS of hard-working Australians, South Koreans, Indians, and others who had their life savings stolen by this company, and their dreams shattered. Many will never be the same. . . .
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