Free Subscription

  • Access 15 free news articles each month

Professional

Try one month for $5
  • Unlimited access to news,insights and opinions
  • Quarterly and weekly magazines
  • Independent research reports and forecasts
  • Quarterly webinars with industry experts
  • Q&A with retail leaders
  • Career advice
  • Exclusive Masterclass access. Part of Retail Week 2021

National furniture chain collapses

TOFSThe parent company of 40-plus store franchise chain The Outdoor Furniture Specialists has become the latest retail causality of 2018, having fallen into administration last week.

The Queensland-based business is now in the hands of Anthony Elkerton and Justin Holzman of DW advisory, who were appointed Joint & Several Voluntary Administrators of the business.

It is understood that franchisee networks are continuing to trade while the franchisor is insolvent ahead of a creditor meeting scheduled for 6 February.

“At this stage, the administrators are investigating the affairs of the Company, and a report to creditors will be issued in approximately four weeks,” DW advisory said in a statement.

The Outdoor Furniture Specialists toutes itself as the largest specialist oudoor furtniture retailer in Australia and has been in operation for more than 25 years.

Stores sell a range of outdoor dining, lounges, tables, chairs, umbrellas and accessories.

The franchisor isn’t the first retail chain to fall into administration this year, with women’s pluz-size brand Maggie T also collapsing in January.

Late last year larger brands such as ASX-listed accessories retailer Oroton Group and online surfwear retailer Surfstitch also fell into administration amid a continuation of difficult trading conditions in the retail sector.

DW advisory has not been appointed as the administrator of any franchisees within the network.

You have 7 free articles.

Masterclasses are for professionals only

Only $5 p/m for first 3 months
Become a Professional Already a professional? Login
  • Daily exclusive Members Only content straight to your inbox
  • Access to exclusive Retail Week events including all 4 Masterclasses 28 February - 3 March
  • Retail insights and intelligence
  • On-demand videos with industry professionals
  • Weekly careers advice specific to retailers
  • Independent research reports and forecasts
  • Q&A with industry experts
  • Content, content, content! Weekly and quarterly magazines