Private equity firms are circling El Jannah, the popular Australian chicken chain. The founding family is expected to retain a significant stake in the business and remain involved in its operations, according to Street Talk. Brett Houldin is also expected to stay on as CEO. El Jannah is known for its Lebanese-style charcoal chicken and has a devoted following in Sydney and Melbourne.
In other news, Corporate Travel Management has further delayed its financial results amidst a deepening accounting scandal. The business travel agent revealed additional issues that are likely to result in a negative restatement of earnings stretching back to 2023. Corporate Travel Management provides travel solutions to businesses, offering services such as booking flights, accommodation, and managing travel expenses.
Meanwhile, a luxury mansion in Brighton, previously owned by a Rich Lister and sold by a Goldman Sachs investment banker, has been snapped up by a luxury developer for an undisclosed sum above its price guide. The property’s sale highlights the continued demand for premium real estate in Melbourne’s bayside suburbs. Finally, new environment laws have passed parliament despite opposition, with Prime Minister Anthony Albanese touting wide endorsement.
