Johnny’s Furniture, which had stores all across Australia, has collapsed.
Customers have been left wondering what will happen to their gift vouchers and lay-by purchases.
The company, which had a significant decline in revenue, was placed into administration.
Shumit Banerjee from Westburn Advisory was appointed as the administrator of Johnny’s Furniture.
Some of the customers who visited the company’s stores found out that it had gone out of business.
They were then told that a sale or recapitalization was being considered.
In a letter to the customers, Mr. Banerjee stated that the company’s director wanted to honor the various lay-bys and store credits.
He also noted that the company was still operating in a limited capacity and was trying to do everything possible to help the customers.
Some of the creditors of the company include the Australian Taxation Office, the staff, and various government agencies.
One of the customers who was affected by the company’s collapse was Alana Boland from Gold Coast.
She had paid almost $1,000 for a new lounge. She was surprised to learn that the company had gone into administration after she visited the store last week.
She said she had requested a full refund earlier this year, but she had not received it.
She said she was excited to get a new lounge as it was her first home and she was getting ready to move into it.
Unfortunately, her dreams of a new lounge have been shattered.