Jack Purcell Meats Collapse: Iconic Brisbane Butcher Shuts After 83 Years as Liquidation Hits Family Food Sector
Brisbane’s Jack Purcell Meats, a family butcher business that’s been around for 83 years, has shut its doors and gone into liquidation. The group once ran 23 locations across the city. Alan Walker from Asset Restructuring Group is handling the liquidation for Snag Pty Ltd ATF the Snag Investment Trust, the entity behind Jack Purcell Meats, according to the Courier Mail. Timing plays a role here. On May 5, Australia’s Reserve Bank hiked its cash rate by 25 basis points—a quarter-point lift—to 4.35%, nudging up borrowing costs for both households and businesses grappling with pricier fuel and rising input costs.