What about Michael Sherlock's take on the group? He sold Brumby's to RFG for $47mil. I'm sure he knows what he's doing to build a business up to 320 stores. He reckons there should be 600 Brumby's by now, instead there's less than 250. Michael himself kept 7 stores but in the end had to dump them as they all started losing money under RFG. I feel bad for both the franchises who have lost their life savings but I also feel sad for investors in the business. It appears to be a straw house.
RFG Price at posting:
$3.08 Sentiment: None Disclosure: Not Held
