The 60 store King of Knives kitchenware chain has been placed in administration. 
Administrator, BRI Ferrier was appointed late last week to the company, with the first creditors meeting to be held on August 23.
The 25 years old chain is headed by retail stalwart, Ron Baskin, who repurchased the company he founded in 2007 from RCG (then Retail Cube) for $4.5 million.
Around 14 franchised stores are unaffected by administration proceedings, although all King of Knives stores continue to trade across both Australia and New Zealand. King of Knives was established in 1987 with the first store opened in Westfield Chatswood.
