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Boutique homewares business collapses owing $1.6million to customers

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작성자 Cecile Aston 작성일 23-11-30 08:30 조회 216 댓글 0

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kitchenplanner-planovani-kuchyne2.jpgA boutique homewares store that collapsed is revealed to be owing customers, former employees and suppliers millions of dollars.

Fenton & Fenton, based in Prahran in Melbourne's inner south-east, was placed under external administration earlier this month.

Adam Nikitins and Stewart McCallum of EY were appointed as liquidators to wind down the business.

During this process, Mr Nikitins and his team learned there were a number of unfulfilled customer orders that totalled $1,585,000. 

These orders included products from the store and gift cards.




Boutique homewares company Fenton & Fenton (pictured) is revealed to be owing creditors millions following its collapse

There were about 100 customers who have been unable to retrieve their purchases from Fenton & Fenton. EY has since reached out to them. 

'Those customers have been contacted to come and collect their goods,' Mr Nikitins told The Age.

'We were able to do that because those particular orders qualified for very specific criteria which meant we were able to rightfully release those goods to them.' 

However, there is still millions owed by the company to thousands of 'known creditors' with its total debt reportedly sitting at $6.1million.

These creditors consist of customers, realizace interiérů former employees, suppliers, business partners and well-known Australian stars.

Reality TV star The Block judge Darren Palmer is owed $7,320 while Masterchef judge Melissa Leong is waiting to be paid $442.

Geelong Cats star Patrick Dangerfield, actor and singer Tottie Goldsmith and former Real Housewives of Melbourne star Chyka Keebaugh are also owed money. 

The Australian Taxation Office alone is seeking more than $500,000 in unpaid debt from Fenton & Fenton.

Others include two major banks, ANZ and NAB, who have made claims of $34,891 and návrhy interiérů $1.5 million respectively, and BMW Car Finance with a claim of $106,626.23.

EY is still looking for a new buyer for the company in the meantime. 

Mr Nikitins said there was 'significant interest' from a small number of parties.

These parties have been made well-aware of the unfulfilled back orders and gift cards, which will be an 'important consideration' for the buyer taking over.




Reality TV stars including The Block judge Darren Palmer, Masterchef judge Melissa Leong and Geelong Cats footy icon Patrick Dangerfield are among the well-known faces understood to be owed money









Lucy Fenton (pictured) started the business in Melbourne's Prahran in 2008 and expanded into a second showroom in Collingwood in 2019

Creditors still owed by Fenton & Fenton should expect an update in the coming weeks, according to Mr Nikitins. 

Fenton & Fenton director Lucy Fenton started the business 2008 with the small showroom on High St.

She described the company's niche as 'part interiors boutique, part gallery..a treasure trove of furniture, homewares and art in a kaleidoscope of colours and patterns sourced from near and far.'

Riding the wave of Melbourne's interior design boom spurred on by The Block, which became a hit when Scott Cam and Shelly Craft took over hosting duties in 2010, the business expanded and opened a second showroom in Collingwood in May 2019. 

In addition to the two showrooms, the company also had an online store shipping across Australian and New Zealand which Ms Fenton described as the backbone of the business.

The firm's colorful Instagram page, showcasing their in-house range and the work of artists and furniture designers on its roster, garnered more than 350,000 followers and was posting updates as recently as this week. 

Among those followers were top Australian celebrities including Sonia Kruger, Sylvia Jeffries, Kyly Clarke, Pip Edwards and Carrie Bickmore. 

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