The Australian Securities and Investments Commission (ASIC), have vowed to look into the issues identified in a parliamentary inquiry report of the Retail Food Group (RFG).
The parliamentary inquiry handed in its report on Thursday, recommending the RFG and its directors be investigated over allegations of insider trading, tax avoidance, breaches of consumer law and other market disclosure failings.
The company has been closing stores and struggling financially, with a recent auditor report highlighting the company's negative working capital and that it was only surviving due to the support of its bankers.