Stationery company kikkiK has gone into voluntary administration for the second time in 17 months. Australian brand Bardot has become the latest victim of the cut throat retail sector going into voluntary administration.
7news Sydney Australian Stationery Chain Kikki K Goes Into Voluntary Administration Facebook
The global stationery brand was placed into voluntary administration in March 2020.
Kikki k voluntary administration. CEO Paul Lacy said the business had been caught in a. We look forward to working with everyone at kikkiK through this restructuring process and returning the brand to profitability. Itll be interesting to see how sellable the business is though.
Almost 500 jobs are in limbo after Melbourne-based stationery chain kikkiK was placed into voluntary administration. KikkiK has 65 stores and employs the equivalent of 450 full-time staff. KikkiK has collapsed for the second time in two years after it was acquired by Texas-based retailer Erin Condren in June 2020.
The brand founded by Kristina Karlsson and her husband Paul Lacy in Melbourne in 2001 was operating from 65 stores across Australia New Zealand Singapore and Hong Kong. Melbourne-based stationery chain kikkiK has followed Bardot Jeanswest and Colette by Colette Hayman into administration. 816am Aug 31 2021.
The Victorian-based business has fallen into voluntary. ASIC records show administrators. EC Design will enter into a.
The stationery company which was founded in Melbourne in 2001 by Kristina Karlsson and Paul Lacy entered voluntary administration again after its. Voluntary administration means that administrators will now assess whether to sell kikkiK sell its inventories or close shop. Stationery chain KikkiK has become the latest Australian retailer to succumb to weak consumer sentiment amid a sector downturn.
Shock as KikkiK falls into administration. He co-founder and partner Paul Lacy who is also kikkiKs CEO said the company had tried everything to save the business in the past two years. Lockdown forces kikkiK into administration again.
The chain has 65 stores across Australia Singapore Hong. Popular stationery store Kikki K has collapsed into voluntary administration. KikkiK has been saved from voluntary administration after securing a partnership with US-based EC Design.
Stationery company kikkiK has gone into voluntary administration for the second time in 17 months. The companys founders expressed profound regret and sadness when confirming the news in a statement overnight. KikkiK appoints voluntary administrators amid perfect storm.
A few weeks after closing its UK stores Australian card and stationery business kikkiK has gone into voluntary administration after attempts to save the business failed. It is with profound regret and sadness that we take this action founder Kristina Karlsson said. In Asia KikkiK has stores in Hong Kong and Singapore and it sells online.
KikkiK first went into voluntary administration in March 2020 owing 20 million to creditors and was sold in June to US-based lifestyle products company Erin. Melbourne-based upmarket stationery retailer KikkiK has announced it has entered voluntary administration. The stationery brand will now expand its e-commerce offering and continue to operate its 30 stores across the world.
KikkiK co-founders Kristina Karlsson and Paul Lacy have written to staff to tell them the difficult news The Australian Financial Review reports. 1059am Aug 4 2020. Directors have today announced that the chain is in voluntary administration after they failed to find a global buyer for the business in time.
Stationery business kikkiK has collapsed into voluntary administration for a second time in less than two years. Australian-born stationery business KikkiK has been placed in voluntary administration leaving the fate of 450 employees and 65 stores uncertain. Swedish stationery giant kikkiK has been saved from going under after a US rival emerged as the winning bidder for the retail chain overnight.
KikkiK currently operates more than 60. The company employs 450 people across 65 stores in Australia including two standalone stores in the UK in Covent Garden and Guildford and stores in New Zealand Singapore and Hong Kong. We ran out of time and had no choice but to place the company into.
After learning of kikkiKs intention to enter voluntary administration we knew we were in a unique position to step in and serve as stewards of the brands renaissance.
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