The collapse of an online sports retailer could mean thousands of Australians could score a bargain in the run-up to Christmas.
T&R International, also trading as T&R Sports, went bankrupt in October, owing $7 million to creditors and $5.4 million to customers.
The company’s entire inventory, worth an estimated $7 million, is being sold 20 auctions spread over three locations Sydney, Melbourne And Brisbane.
Lloyds Auctions handles the fire sales of T & R Sports, which involves clearing more than 10,000 lots. All items are without reserve, with new and display models starting at $1.
Products up for grabs include pool tables, treadmills, exercise bikes, massage chairs, electric bicycles and scooters, table tennis tables and fitness equipment.
The auctions are facilitated online and buyers must collect their items from the warehouses and must show ID to collect their items.
Inspections of items for auction can also take place at warehouse locations between 9:00 a.m. and 2:00 p.m.
However, shoppers cannot claim a guarantee on items purchased with a Lloyds spokesperson telling Daily Mail Australia: ‘All lots are auctioned under standard auction terms, so no guarantee.’
T&R International, also trading as T&R Sports, went bankrupt in October
The shares (pictured) are worth approximately $7 million and will be sold in 20 auctions at three locations in Sydney, Melbourne and Brisbane.
Pool tables, treadmills, electric bicycles, scooters and fitness equipment will be sold
“Lloyds, in partnership with Hilco APAC, has strict instructions to sell everything as quickly as possible,” said Lee Haymes, Chief Executive Officer of Lloyds Auctions.
“The short 30-day sale period and all items from $1 with no reserves will ensure all stock is cleared before Christmas,” Mr Hames said.
The company’s collapse in October followed almost 500 complaints to the NSW and Queensland Fair Trading jurisdictions about possible breaches of consumer law.
NSW Fair Trading warned consumers ‘not to do business with online retailer T&R International Pty Ltd which uses the company names ‘T&R Sports’ and ‘Sports Leisure’ through the websites ‘www.trsports.com.au’ and ‘https : //sportsleisure.com.au”.’
In September, Queensland Fair Trade Commissioner Victoria Thomson said: “We are particularly concerned about claims that consumers are being denied refunds to which they are entitled under Australian Consumer Law.
“Some consumers claim they never received the products they ordered, while others report that the goods were delivered late or damaged.”
A Current Affair investigation spoke to customers who claimed they were misled, sold products that never arrived or were faulty and had their refunds refused.