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A location theatre store that turned implicit $100 cardinal successful gross implicit the past 7 years has collapsed.
It has ceased to commercialized instantly and each unit person been stood down.
An estimated 60 customers who person paid for goods and services person besides been impacted.
News.com.au tin uncover that Life Style Store Pty Ltd, based successful Parramatta and which described itself arsenic the “largest specializer audio-visual retailer successful Australia”, has gone into administration.
The 35 unit who worked astatine Life Style Store present nary longer person jobs. It had been successful concern for 23 years.
Ken Whittingham and Mark Robinson of insolvency steadfast Fort Restructuring were appointed arsenic administrators past week.
In a connection to news.com.au, they said Life Style Store had collapsed pursuing a quality betwixt different business, which went into liquidation earlier this year.
“We are astatine the aboriginal stages of what we expect volition beryllium a analyzable administration,” they told news.com.au.
Two different sister businesses person besides been caught up successful the aftermath of the company’s collapse.
A precocious established nationalist concatenation called Theatre astatine Home was linked to Life Style Store.
Theatre astatine Home separately went into liquidation earlier this year.
Another concern linked to the saga, ROQO Pty Ltd, was a shareholder successful the institution and it excessively has collapsed, going into liquidation past month.
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Life Style Store’s impending medication assignment has been the taxable of treatment connected assorted chat forums since April.
Rumours proliferated that the concern was successful medication backmost then, but the institution unopen these down successful a societal media post.
However, a fewer months aboriginal this proved to beryllium true.
Some customers mentioned they had filed papers with the NSW Civil and Administrative Tribunal (NCAT) to retrieve their money.
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