Sam’s club is a major player in the Australian fast food industry, but one of its most famous franchises is in danger of shutting down.
Sam’s Club’s parent company, Sam’s, announced that it would stop selling its premium snack bars next year.
The company said that it had been working on a range of new products, including healthier options for its popular “Sam’s” products.
The move comes as Sam’s has been hit by the fallout of its $8.5 billion debt and a $9 billion loan, with many people now worried about the long-term viability of the business.
In a statement on Friday, Sams said it had decided to close all Sam’s stores by year-end.
“The Sam’s brand has become a global brand, and we are proud to serve customers around the world,” the statement read.
“We will no longer serve Sam’s products at Sam’s Clubs and are in the process of closing Sam’s locations across the world.”
Sam’s has had a rough few years, with customers increasingly worried about health and safety, and with sales down 40 per cent from the same time last year.
In the past few years the chain has introduced healthier offerings and has been trying to improve its image.
Sammies new owner, WPP Capital, bought the company for $8 billion in 2013, and the company has been struggling to recover from the financial turmoil.
Sam has also been hit hard by the debt crisis that has hit its parent company.