Retravision Southern (RVS) has entered into voluntary administration appointing Bryan Webster and Leanne Chesser of KordaMentha as the administrators.
RVS acts as the buying and marketing licensor for retailers of electrical goods operating under the Retravision brand in Victoria, Southern New South Wales and Tasmania.
The administrators not however the appointment is not over the Retravision stores which continue to operate. Nor does it apply to Retravision Western and Retravision Northern which operate in other States and northern NSW.
Webster said the company’s ability to operate as a going concern had been impacted by the industry wide decrease in consumer discretionary spending being experienced by retailers.
He also said Retravision customers should liaise with retail stores about orders and laybys. Existing gift cards will be honoured and there is no reason why manufacturers’ warranties would be affected.
The process of voluntary administration is designed to quickly explore the options for RVS.
The voluntary administrators will be writing to all creditors to provide notice of the date and location of the first meeting of creditors. The first meeting of creditors will be held within eight business days.
- Snowgum collapses after competitive pressure takes its toll
- PixiFoto's snapping days are over as business shuts
- Legendary retailer closes Geelong store after 76 years
- Debt riddled Lisa Ho to shut remaining doors
- Mothercare enters voluntary administration
comments powered by Disqus