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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.

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