The fate of 160 Sims IGA Plus Liquor supermarket staff could be known within a fortnight as administrators prepare the Footscray and Werribee stores for sale.
Star Weekly reported earlier this month that grocery and hardware giant Metcash had called in administrators to manage the sale of the debt-plagued operations.
Insolvency firm Rodgers Reidy has been combing through the finances, holding the first meeting of creditors last Tuesday.
Star Weekly understands the operations’ debts have run well into millions of dollars, leaving a number of suppliers significantly out of pocket.
But Rodgers Reidy director Shane Cremin remains positive about the potential for the stores to continue trading under new ownership.
“The sales campaign is continuing – we have had a few interested parties,” he said. “Offers must be in by July 27. We will then issue another report to creditors before a second meeting around August 10. We are optimistic.”
The two stores have a combined annual turnover of about $32 million.
Mr Cremin confirmed interest had come from parties already operating in the grocery field. He said creditors would have the opportunity to vote on the future of the business and make their claims, but any further investigation into what led to the store’s troubles would be a matter for the liquidator.
The Sims supermarkets, previously known as Self Service Wholesalers, have been under the ownership of the Sims family for decades.
William Sims remains a director of the company, but another director, David Cotter, died in February this year.
A parody Facebook page claiming to represent the Footscray store, created earlier this month, has attracted more than 8000 followers and continues to operate.
