2nds World falls into administration

Sydney-based appliance retailer 2nds World has fallen into administration, appointing De Vries Tayeh as administrators.

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.

Comments

7 comments

  1. Avatar

    Margaret posted on April 16, 2019

    Can you tell me when they are opening again to "trade for a limited period" as your above article says? I rang the Auburn store at 1:17 yesterday afternoon and enquired about an oven. A girl told me they had it in stock. I told her I would be along in the next day or two. When I arrived at the store a couple of hours later it was shuttered and barred. "Closed till further notice" - no explanations. Why did the girl on the phone not warn me they may be closed when I came? It is very frustrating, but I would be very glad if you could advise me when they are temporarily re-opening for trade reply

  2. Avatar

    Barbara posted on April 16, 2019

    I doubt that girl even knew they were going into administration reply

  3. Avatar

    Amber Putt posted on April 16, 2019

    that poor girl is likely retrenched and wondering where her next paycheck is coming from, people on the front line in stores aren't usually privy to the bigger picture and feel the pain more than most reply

  4. Avatar

    Helen posted on April 17, 2019

    I went there once looking for a stove. They were so unhelpful I couldn't get out of there fast enough. This was about a year ago. reply

  5. Avatar

    Mark posted on April 17, 2019

    I bought a washing machine at the Carringbah store. I drove to the dock and they loaded the machine into my vehicle. I then went back into the store to pay for it, the agreed price had just gone up by about $200. The manager berates his staff and overrides their dealings with the customers. He is also very rude to the customers. I walked back to the loading dock and they unloaded the washing machine. I then drove, a very short distance, to The Good Guys, where I had a much better experience and result. The Company was on overtime because of how they treat, and how they've always treated their customers. I hope that the staff get gr8 jobs to go to if they go under. reply

  6. Avatar

    Amanda posted on April 23, 2019

    Im on the phone to my warranty people who have just transferred 2nds world my store credit. Im not happy ive been without a washing machine for 1 month reply

  7. Avatar

    David Kessler posted on May 7, 2019

    I have purchased many appliances from 2nds World Cremorne. Their advice and service was always excellent. They were a small player in a very competitive market dominated by very large and publicly listed companies who had much bigger buying power ( despite being in a buyers group). I found the Manager , Saeid, and Staff at Cremorne to be hard working and honest. I am so upset that so many good people have lost their jobs. The owner, Peter, was also a good and hardworking person. I hope that they will be purchased and can keep going and growing. Thank you 2nds World. David reply

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