Leading chain of Theatre at Home hi-fi stores collapses - sparking bitter legal ... trends now
A chain of home theatre hi-fi stores has gone into administration after shopfront landlords demanded outstanding rent, triggering a messy legal dispute.
Theatre at Home has eight stores in Sydney, Melbourne, Brisbane, Adelaide and the New South Wales Central Coast, but the shutters came down earlier this month.
Trading was stopped amid a row with landlords over unpaid rent, with one creditor allegedly owed $4.5million intervening to have to it placed into administration.
A related audio-visual technology company, Roqo, was also placed into administration last Monday.
Theatre at Home, which specialises in installing home cinemas, was placed into administration last week with insolvency firm Nicols + Brien appointed administrators.
Theatre at Home managing director Vinod Christie-David is allegedly taking legal action to challenge this administration and the legality of seizing goods as collateral for unpaid debts.
A chain of home theatre hi-fi stores has gone into administration after shopfront landlords demanded outstanding rent, triggering a messy legal dispute
Theatre at Home has eight stores in Sydney, Melbourne, Brisbane, Adelaide and the NSW Central Coast
Sydney-based private investment company Danwa allegedly lent $4.5million to Theatre at Home and another $2.5million to Roqo, which is said to have provided equipment to the retail store.
