Background: Barbeques Galore was founded in Sydney in 1977 and grew into Australia’s largest BBQ and outdoor furniture retailer, with 68 company-owned stores and 27 franchises nationwide. It has had a rocky corporate history, listing and delisting from the ASX, a failed US expansion during the GFC and multiple private equity owners along the way.

What happened: After years of ownership changes from Ironbridge to Quadrant and eventually to lender Gordon Brothers, Barbeques Galore has now entered receivership after struggling with ongoing liquidity challenges.

What else: The good news? Existing gift cards are being honoured. The bad news? For every $1 redeemed, customers need to spend $2 in new money. Ouch! The hope is that a new buyer can step in and stabilise the business before further damage is done.

What's the key learning?

💡When a business keeps changing hands, it can quietly ruin long-term strategy. Different owners bring different priorities such as expansion, cost cutting or a quick exit, which makes consistent long-term planning difficult.

💡Constant ownership resets can weaken investment in brand, culture and customer loyalty. Even with 38% market share, Barbeques Galore struggled to translate scale into profit.

💡And clearly, market leadership does not guarantee financial health. Despite holding 38% share of the premium BBQ market, Barbeques Galore has been loss-making for years. We're talking a $16 million pre-tax loss in 2024 after a $4.7 million loss in 2023.