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Heal deal in doubt amid bankruptcy

A business venture in Rockhampton by former basketballer Shane Heal is under a cloud.
A business venture in Rockhampton by former basketballer Shane Heal is under a cloud.

THE future of a Rockhampton business venture involving former basketballer Shane Heal is in doubt after the Gold Coast businessman filed for bankruptcy last month.

The Morning Bulletin's calls to Heal and the Heal Group went unanswered yesterday, and a call to Heal's bankruptcy trustee, Peter Dinoris at Vincents Chartered Accountants, revealed Mr Dinoris was on leave.

In June, Mr Heal put a call out for a motivated local franchisee to take the challenge of running the Rockhampton store of his new venture, Urban Burger.

The store, which was vacant yesterday, was to be located along Musgrave St's golden stretch of fast-food outlets, between Eagle Boys and Noodle Box.

This call came two months after Heal pulled out of his Noodle Box franchise on Musgrave St.

Noodle Box reopened its North Rockhampton store after Heal moved on.

The announcement that Heal has filed for bankruptcy creates a cloud over the Urban Burger venture.

It is reported that Heal attributed his financial problems to the fall of Allied Brands.

Allied Brands was placed into voluntary administration last year with debts of more than $20 million.

There was a dispute with the franchisor to Noodle Box which led three of Heal's seven Noodle Box stores to close down.

Heal had a 10-year contract - once valued at $6 million - through which Allied Brands sought him to develop the Baskin Robbins brand in south-east Queensland.

Topics:  bankruptcy shane heal



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