Furniture company collapses into liquidation

A troubled Australian online furniture retailer has recently gone into liquidation leaving thousands of consumers without their paid for products. The Australian Furniture Association is adamant that AFA Member companies are not involved in the collapse, sighting ‘trust’ and ‘integrity’ across the Australian Industry and its Member. The AFA will continue to educate consumers on behalf of its Members about the risks of engaging with these types of ‘digital only’ entities.

The home decor retailer’s creditors decided to dissolve the business last week and according to reports, the bankrupt company owes $24 million, including $10 million in unpaid orders to customers.

It only has assets worth $4.3 million. That means that an estimated 2500 customers who shelled out thousands of dollars on furniture will miss out.