2nds World falls into administration
The administrators said they are already in discussions with a number of interested parties and are looking to execute an urgent sale process.
2nds World will continue to trade for a limited period while the administrators seek expressions of interest to sell the business as a going concern.
The retailer, which has five bricks-and-mortar stores located in New South Wales, in Carningbah, Cremorne and Penrith, and an online store, sells discounted appliances to retail customers and commercial clients.
Last January, the company announced two new appointments to its management team, Denis Harvey as merchandise consultant and Karl Holdsworth as retail sales manager for NSW and Victoria.