Despite his spectacular loss of wealth in ABC Learning, little detail has been reported about Eddy Groves’ remaining business interests.
While Groves’ beloved Brisbane Bullets basketball team licence was handed back to the NBL last June, Groves is still believed to retain an interest in Quantum Food Services, the largest distributor of Paul’s milk in Queensland. Groves remains the sole director of Quantum, following the resignation of Bill Bessemer in September 2008 and Le Neve Groves in April 2008.
In October 2007, Quantum converted from a public company to a private company, therefore its last publicly disclosed financial statements date back to 25 September 2007 and relate to the 2006 fiscal year. Those financial statements reveal that the business had net assets of $1.6 million, after recording a profit of $413,798, for the year ending 30 June 2006 (the business did manage to generate operating cash-flows of more than $1.3 million).