Why is Exit 57 Investment not a division of RFG? (uumh... Wonder if Dominoes farmed out 'involuntary stores' to external managers?)
It must be profitable business as there is a tax dispute by the ATO of $2.8m.
On a tax rate of 45%, pre-tax profit of $6.2m is in dispute for a company granted the management deal in 2014 operating for about 3-4 years.
What is the nature of Exit 57’s business? Seems lucrative for just managing lease transitioning between franchisees.
Exit57 further claims to be owed a debt of $1.6m by RFG – the main cause (the other being $0.8m owed to Ms Atkinson) for it being insolvent and now in liquidation.
How convenient? Exit 57 now avoids payment of tax dispute.
Not saying that’s any wrongdoing. Just putting it out there.
RFG Price at posting:
$1.13 Sentiment: Sell Disclosure: Not Held
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