Franchise business LPGas1 Franchising and the LP Gas company have gone into administration. The eight franchises within the system, mainly in NSW and Victoria, are continuing to trade according to administrator Philip Hosking of Armstrong Wily.  

“We are continuing to trade the business with a view to selling it. It is business as normal.”  

Hosking is taking swift action to attract a sale of the going concern and he said it would be the best result if franchisees could continue with their current agreement with a new franchisor.  

He told Franchising the directors had decided they were unable to meet their debt payments: as yet, details of the full debt have not been uncovered.

The first creditors meeting will be held this week.