In sad news for fans of Doughnut Time, half of the outlets are set to close as the company changes hands.
Damian Griffiths will sell the doughnut empire to former CEO and managing director Dan Strachotta, in a move which will save the doughnut brand from closing down completely, but will see half of the current stores close.
In Melbourne, only the Degraves Street, Fitzroy Street and Chapel Street outlets will remain.
For Brisbane, the South Bank and Clayfield stores will stay open.
There will also be one in the Gold Coast at Mermaid Beach.
Meanwhile, Sydney will just have one in Newtown.
“I am accepting the blame, I expanded too quickly," Griffiths said, reports broadsheet.com.au.
"I guess I had too many big ideas and dreams when I started the development of Limes Hotel, Alfred & Constance, and then expanded Doughnut Time around Australia."
The move comes as up to 35 workers complained to Fair Work in February that they were owed more than $70,000 collectively in pay, as well as other administration issues.