A luxurious shoe retailer has gone into administration following years of controversy and a number of offended clients.
Luxurious shoe retailer Sneakerboy has gone into voluntary administration following a wave of controversy.
The enterprise, which sells footwear like Balenciaga and Canada Goose for effectively north of $1000, has confronted scandals and a number of wind up orders in recent times.
The transfer was confirmed in a discover of appointment launched by the Australian Securities and Investments (ASIC) on Saturday, with Stephen Dixon from insolvency agency Hamilton Murphy Advisory chosen as administrator.
5 firms had been included on the discover, Sneakerboy Pty Ltd and two associated firms beneath the Sneakerboy identify, and Luxurious Retail Treasury Pty Ltd and Luxurious Retail Group Pty Ltd (Sneakerboy’s mum or dad firm).
“Sneakerboy right this moment introduced that Stephen Dixon of Hamilton Murphy Advisory has been appointed as voluntary administrator” Hamilton Murphy Advisory stated in an announcement.
“The voluntary administration appointment has been made attributable to brief time period financing difficulties being skilled by the corporate.
“The troublesome however prudent choice has been made to provoke the voluntary administration course of. The administrator will now assess the continuing viability of the enterprise as he assesses the flexibility of the businesses to proceed to function as a going concern.
It comes after the businesses confronted greater than 10 wind up orders over the past three years, together with from Adidas, the Victorian Fee of State Income and AMP Pacific Truthful (the operators of the Gold Coast Pacific Truthful purchasing centre the place Sneakerboy had a retail retailer).
Sneakerboy has been left with simply 4 retail shops – three in Melbourne and one in Sydney, and a web-based retailer.
Annoyed clients have bombarded the corporate’s on-line platforms and assessment websites in latest months over delayed orders relationship again to January.
“Don’t order something on-line from Sneaker boy they DO NOT HAVE ANY STOCK!!! They deceive their clients, take your cash and declare that they’ve a backlog of orders which is why there’s a “delay” with dispatch. That is an absolute lie. I’ve spoken with a Golden Goose consultant who has confirmed they haven’t been supplying Sneakerboy with inventory for months. Something you order from their web site doesn’t really exist of their warehouse, but they proceed to take orders and by no means reply to your emails,” one offended buyer on Trustpilot stated.
“I bought a $200+ sweater over two months in the past. Nonetheless hasn’t arrived. I’ve despatched numerous emails, Instagram messages and cellphone calls and no response,” one other stated.
“Cease making an attempt to cover individuals into the e-mail part after which ignore them, you guys are crooks and I‘ll be contacting all avenues till I both obtain my order or a full refund (not a credit score), truthfully disgusting how issues are executed. If my parcel is ready for assortment what’s the provider firm and reference particulars,” a pissed off buyer requested.
A brief assertion on Sneakerboy’s web site stated “Sneakerboy is in Administration”.
“All orders from July 2, 2022 can be fulfilled by the Directors transferring ahead. All orders pre-dating July 2, 2022 please contact Hamilton Murphy on (03) 8866 7600.
Hamilton Murphy Advisory stated the businesses have beforehand held discussions with events who’ve expressed an curiosity in buying the enterprise.
“These discussions at the moment are being urgently escalated by the Administrator as a part of the Voluntary Administration course of,” it stated.
The primary collectors assembly can be held subsequent week on Wednesday, July 13 at 11am.
At this assembly, particulars can be supplied to all stakeholders in relation to the monetary and structural place of the businesses.
Sneakerboy Retail Pty Ltd and Luxurious Retail Group are run by Nelson Mair and Theo Poulakis.
Sneakerboy was contacted for additional remark.
Initially printed as Sneakerboy goes into voluntary administration