Australia-wide hi-fi company Theatre at Home enters administration, shuttering stores

An Australian home cinema company has gone into administration, sparking a legal battle over whether the move was lawful. Electronics chain Theatre at Home and a related audiovisual technology company, Roqo, were placed into administration last week. Trading was halted recently when landlords for several of the companies’ locations shut them out of stores before administrators stepped in, according to administrators Nicols and Brien Sydney.

“We are mindful of this effect on employees and deposit holders, and we will be urgently trying to preserve value in the two companies by offering the businesses for sale shortly. “Unfortunately, 23 jobs are affected by these developments.” 7NEWS.com.au understands Theatre at Home is fighting to have the appointment of the administrator overturned. If the legal dispute is successful, the company would not be in administration.

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Source: 7NewsSydney - 🏆 16. / 63 Read more »