Lorraine Lea Linen goes into administration: Melbourne retailer goes bust after 40 years
- The administrators were appointed on Monday
An Australian company that sold bedding and other household items has been placed into administration after nearly 40 years in business.
Lorraine Lea Linen was appointed a manager on Monday.
The retailer is still active and has launched a 50 percent discount on all items on its website.
The family-owned business is headquartered in Melbourne and was founded in 1986.
Lorraine Lea is proud that it is made in Australia.
Directors Andrew Yeo and Tim Bradd of insolvency firm Pitcher Partners said staff had been retained and the business remained operational.
“The administrators are trying to execute all outstanding orders before their appointment,” they said. news.com.au.
“Administrators will continue to reconsider how long the expected realization process will take. Existing customers are encouraged to place orders while supplies last.”
Mr Yeo and Mr Bradd said interested buyers for the business are encouraged to get in touch.
There’s more to come