Howards Storage World enters administration

Another major retailer has entered administration in 2016, after Howards Storage World appointed Deloitte as voluntary administrators late last week.

David Lombe and Vaughan Strawbridge from Deloitte will take control of operations for the home organisation and specialty storage retailer, with a view to selling the business.

They have been appointed to companies that run 29 of the retailer’s stores in New South Wales, Queensland, South Australia and Victoria.

The company is continuing to trade on a usual basis, with submissions for a potential takeover of the business having a deadline of December 16.

“We seek your continued support of the HSW Group business during this period, which is critical for achieving a successful outcome for all franchisees, creditors and employees,” wrote Lombe in a letter to franchisees of the specialty retailer.

“We have also commenced an urgent assessment of the HSW Group inventory and will work closely with key suppliers regarding the ongoing supply of stock and services during the administration.”

The administrators will continue to honour gift cards issued prior to its appointment.