The difficult but prudent decision has been made to initiate the voluntary administration process. In April, AMP Pacific Fair, operators of the Gold Coast Pacific Fair shopping centre,filed a winding-up order in the Queensland Supreme Court. Sneakerboy Pty Ltd 603 960 961 | Winding Up Application | Winding up Kyvetos unique retail strategy involved no till, no fixed point of sale and no on-site inventory at Sneakerboy, with all stock stored in Hong Kong. When I purchase the shoe, they asked me to create a account, and they will send me the invoice and tracking no, but the fact is, my account never be set up but I still successfully paid. Sneakerboy enters administration with creditors to meet this month Technology, diversification, multiple resale channels, demographics, worldwide supply and demand, 13+ years of experience, are just some of the parameters we use to optimize recoveries. Sneakerboys collapse into administration brush is not thefirst challengeto face the company. Poor customer service, never respond to emails or instagram message after several attempts.Place order on the 18/5, been over a month and no order received! After that i did receive a authentic pair, but this is ridiculous. Our site will be temporarily unavailable during this time. Hi Michael,Thank you for taking the time to leave us a review.We're sorry to gear that you have not yet received your order. Still hasnt been shipped. Nike - Liquidation.com 3 Tips for Finding Your Perfect Reselling Platform, Everything You Need to Know About Liquidation. Looking for a new job or job candidate? Based on my inquiries to date, l am of the opinion that the companys failure can be attributed to a deficiency of working capital, poor financial control and poor strategic management of the business, he said. The retailer, which sells brands such as Alexander McQueen, Valentino, Dior, Nike and Adidas, was forced to close stores during lockdowns through 2020 and 2021. Help using this website - Accessibility statement, Sneakerboy took its landlord, Georges Properties, to court. Conceived as "The Luxury Sneaker S See more 81,778 people like this 82,686 people follow this http://sneakerboy.com/ +61 2 9221 1877 [email protected] Clothing (Brand) Privacy Policy https://www.instagram.com/sneakerboy/ Photos April 2, 2015. Kind regards, Sneakerboy. Disgusting! An application to wind up Luxury Retail Group was made by Melbourne-based Banjo Loans holding company FundIT Limited in June in the Supreme Court of Victoria. Dont purchase anything from them, clearly there is something fishy going on. Twenty-two former employees have made claims for unpaid entitlements. By David K. Li and Pei-Sze Cheng / Workplace Matters, No one has called me and I cant get in touch with anyone to even get an update.. Sneakerboy facing winding up action from lender | The Courier Mail We also ensure all reviews are published without moderation. Labeled Verified, theyre about genuine experiences.Learn more about other kinds of reviews. Sneakerboy is 50-50 owned by holding companies held by directors Theo Poulakis and Nelson Mair, according to regulator filings. A luxury shoe retailer has gone into administration following years of controversy and multiple angry customers. The conflicting interests of director and shareholders was really to the detriment of the trading operations but it seems through the voluntary administration process it traded well, he says. Up untill now I still haven't got any updates and the status till states thag it's on "Backorder". Lotz International, LLC. Nike Liquidation Auctions - Bulk Wholesale Lots - DirectLiquidation Carrafa says the successful sale demonstrates the benefit of seeking help from administrators at an early stage. Sneakerboy: Cult shoe company owes $17.2 million to staff and creditors An application to wind-up Luxury Retail Group was made by Melbourne-based Banjo Loans holding company FundIT Limited in June in the Supreme Court of Victoria. But administrator Michael Carrafa of SV Partners told SmartCompany Sneakerboy ran into trouble after a dispute between Kyvetos and one of the shareholders. !I will definitely bring this matter to fair traiding and police if required. As a student, this is really, truly heart-breaking. The RBA has warned Australians to prepare for inflation to hit 7 per cent by the end of 2022, well above its target range of between 2 and 3 per cent. The company did score a legal win in 2020,after the Supreme Court of NSW ruled Sneakerboy be granted at least six months of breathing room to recover from Covid-19 business closuresbefore its landlord moved to evict the retailer or raise its rents. However, it re-emerged following a sale to a party relating to one of the directors, Carrafa said. Add to Cart. Best source for liquidation merchandise and most innovative reverse logistics solutions. All orders from July 2, 2022 will be fulfilled by the Administrators moving forward. You can find more information about a sales wait times on our Customer Service page under the "Shipping Information" Subheading.We understand these delays can be an inconvenience and we apologise wholeheartedly for this.Were looking forward to you receiving your order but please reach out to [email protected] if you have any further concerns.Kind regards, Sneakerboy. I tried to get a refund, but they said they would inspect the sneaker to ensure it was fake. The company operates three retail stores in Melbourne and one in Sydney, along with an online retail portal. Moreover, these are high-quality goods with their original packaging and tags intact. Luxury retailer Sneakerboy facing a liquidation push from Adidas is also being pursued by the ATO for $1.2m in unpaid super and taxes. The business, which sells shoes like Balenciaga and Canada Goose for well north of $1000, has faced scandals and multiple wind up orders in recent years. Sneakerboy collapse: Company owes $17.2 million to creditors - news Sneakerboy Retail Pty Ltd and Luxury Retail Group are run by Nelson Mair and Theo Poulakis. Demand for goods tends to be high and your favorite truckload might get sold to someone else if you arent quick enough. Unfortunately during busy sales period orders can be subject to additional processing and shipping times however we are working hard to get products out to our customers as quickly as possible. Please look for an email from Hamilton Murphy outlining the actions around past orders. Liquidation.com will be undergoing maintenance on February 18, 2021, between 9:30 pm and 10:30 pm Eastern. SNEAKERBOY in Little Bourke Street. Staff were told on Friday afternoon that they were being made redundant after the company failed to find a buyer. Editors note: The author of this article is a customer who was impacted by Sneakerboy going into administration. Cult shoe store Sneakerboy facing winding up action over unpaid Qld store rent A luxury shoe and streetwear retailer with stores down the east coast is facing liquidation after its Gold Coast landlord took it to court for failing to pay rent for more than a year. An application for the winding up of Sneakerboy Pty Ltd was commenced by the plaintiff Adidas AG (HRB 3868) on 16/03/2020 and will be heard as set out below. NOTICE TO SUBMIT PARTICULARS OF DEBT OR CLAIM IN A SIMPLIFIED LIQUIDATION PROCESS - 5.6.39(2)and(3) . I have sent emails and messages to there instagram and have still not got a response. The administrator will now assess the ongoing viability of the business as he assesses the ability of the companies to continue to operate as a going concern. JA. Sneakerboy | 1,928 followers on LinkedIn. The move was confirmed in a notice of appointment released by the Australian Securities and Investments (ASIC) on Saturday, with Stephen Dixon from insolvency firm Hamilton Murphy Advisory chosen as administrator. Placed my order weeks ago (order 322484) and have not received any notice of my order. Wholesale Liquidation Overstocks Bulk Returns Nike Jordans Levi. You can opt-out at any time. I have spoken with a Golden Goose representative who has confirmed they have not been supplying Sneakerboy with stock for months. we can only give you a credit refund". I have completed verification work pursuant to the Fair Entitlement Guarantee scheme and encourage any former employees of the Company to complete an online claim form if they have not already done so.. We assure you well get to your enquiry as soon as possible and thank you for your patience.Kind regards,SNEAKERBOY. Luxury Retail Group is similarly split between Mr Poulakis and Mr Mair, although via four entities. Companies can ask for reviews via automatic invitations. Sneakerboy sells upmarket footwear and streetwear, with some Balenciaga sneakers on its walls reaching north of $1500. Shoe Liquidation Truckloads - Quicklotz I'll be contacting them confirming this and will be discussed with you guys on this public platform rather than the merky waters in your private emails, Hi Callum,Thank you for taking the time to review Sneakerboy. "We thank God first, and we thank all our customers, suppliers, and the passion of our team. A recent letter to creditors, seen by 7NEWS.com.au, says the company has no funds available to carry out compensation for victims. Carrafa says Kyvetos is still involved in the business overseeing the buying of stock. SmartCompany understands Sneakerboy turns over around $50,000 per week and Carrafa says its a strong business model. Plaintiff or Plaintiff's legal practitioner: 10:30AM, Sneakerboy: Luxury sneaker retailer avoids liquidation | The Advertiser A hearing in the Melbourne Supreme Court on Thursday heard Sneakerboy and Adidas were working on a deal to settle the matter. If my parcel is waiting for collection whats the carrier company and reference details, a frustrated customer asked. As a result, your margins tend to be hefty and lucrative when you sell these products through your online store. Home > keyword "sneakers" Refine Your Search. Hi Eric,Thank you for taking the time to leave us a review.We're so sorry to hear that you haven't have a good experience with us here at Sneakerboy.Unfortunately - and like a lot of other businesses - we have been experiencing some delays in shipping orders due to extenuating factors outside our control. The first question most of you will have is: where do I buy my inventory? I will filing consumer affairs complaints and ACCC, they shouldnt be trading at all. But is this really the case? The voluntary administration appointment has been made due to short term financing difficulties being experienced by the company. Hi Mel,Thank you for taking the time to review Sneakerboy. Copies of documents filed may be obtained from the plaintiff's address for service. Within hours, shed lost $40,000, Mining giants $4 million gift over missing capusle, but its not cash. Thank you for your understanding! Technology, engineering, professional services and sales roles are among Australias most sought-after job titles according to LinkedIn data. During these sales, you can pick up some awesome shoe liquidation truckloads at ridiculous prices. Another said: Hi, if you guys dont ship my order, I am going to file a chargeback with my bank as you are not responding to my emails either.. Im in a similar boat to a lot of other customers. Still trading even if they are now in Administration. Hi Evelyn,Thanks for taking the time to share your review. Until, they finally responded with "what do you want then? And finally, we will recommend that you bookmark this page. Sneakerboy, which operates three stores across Melbourne, has struck deals with both Adidas and the tax office to settle disputes covering close to $1.35m in unpaid bills and superannuation. A short statement on Sneakerboys website said Sneakerboy is in Administration. Sneakerboy held a sale in May 2022 where a number of customers did not receive their orders. You can find those pair of shoes at our shoe liquidation truckloads for a much cheaper price. SNEAKERBOY PTY LTD (IN LIQUIDATION) 161 754 463 | Creditors' Voluntary Liquidation | Appointment | | Published : 10/04/2015 | ASIC Notice Details Save Search Home > Browse/search notices > Notice Details Decrease text sizeIncrease text size Printer friendly formatEmail this page Notice Back to search result Corporations Act 2001 An investigation is now underway to determine whether Sneakerboy traded while insolvent. Lotz International, LLC. However, it re-emerged following a sale to "a party relating to one of the directors," Carrafa said. Our liquidation truckloads are sourced from some of the largest retailers in the United States. Enjoy an EXTRA 50% off in our BACK ROOM weekly from Friday through Monday! I now realise that I have been scammed - no reply to my emails seeking a refund, no update as to my order status, and I am out of pocket hundreds of dollars. HI Reian,Thank you for taking the time to share your experience with us.We're sorry to hear that you have not yet received your order. 2023 RLA Excellence Awards Winner: 'Innovation Solutions Partner' Read the Press Release. FundIT Limited is also listed as having a charge over Luxury Retail Group. Julie Ann. Wholesale Domestic Loads Blankets & Pillows. Luxury Retail Group is similarly split between Mr Poulakis and Mr Mair, although via four entities. I am furious!!! It's been out for delivery now for over a week and the delivery carrier has told me they have not requested a shipping label yet and they cant pick it up. Absolutely horrified at my experience with Sneakerboy! Well, purchasing branded shoes from the market can be a little hefty for your pocket. With our services, you can start your business online in no time and serve your customers high-end products with huge margins. . Give us a call Monday through Friday from 9:00am to 5:00pm EST. In a letter to creditors, dated December 12, 2022, insolvency and recovery businesses Hamilton and Murphy wrote that Fraser Group Australia had purchased the business after it went into administration. To check whether the company was wound up following publication of this notice, search the ASIC database using the ASIC Connect function on ASIC's website www.asic.gov.au, Only notices after 01/07/2012 are available on this website. Also, in order to diversify your inventory, pick different kinds of truckloads so that your customers have more choice when they purchase. The administration brought that dispute to a standstill, which enabled Sneakerboy to be sold last week to a party relating to one of the directors for an undisclosed price. so i decieded to email again and never got a response. 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