Business Services Industry
BoQ franchise brawl escalates.
Australasian Business Intelligence, June, 2007
Byline: Richard Gluyas
Jun 06, 2007 (The Australian - ABIX via COMTEX) -- The Bank of Queensland (BoQ) continues to face problems with some of the operators of branches under its franchise model. The owners of the Maroubra Junction and Hurstville owner-managed branches (OMBs), part of BoQ's strategy to expand interstate into New South Wales, have now taken court action against the company after their licences were unilaterally cancelled. They allege unconscionable conduct and are including CEO David Liddy and Donna Quinn, head of the retail banking division, in the claim. One of the contentious issues is whether BoQ made a profit from the OMB model regardless of the profitability of individual branches, and made false promises to those who invested in a...
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