The Kleenmaid kitchen and laundry appliance business founded by a washing machine repair man almost 25 years ago has entered into administration owing $67 million AUS.
Administrators said yesterday up to 150 staff had been made redundant, with Kleenmaid’s 20 stores across Australia, which included 15 franchises, to close their doors.
According to Deloitte, trade and secured creditors were owed $40AUS million with customers who had paid deposits for products, but not yet received them, owed a further $27AUS million.
Kleenmaid, which sold high-end imported whitegoods, is based in Maroochydore in Queensland, Australia.
The group was founded in 1985 by then washing machine repairman Andrew Young, who claimed to be appalled by the quality of local washing machines at the time.
“Unfortunately, Kleenmaid will not be in a position to honour any existing warranties,” Mr Greig said.
He said that, of Kleenmaid’s 150 staff, about 25 would be contacted this weekend to return to the group to “provide assistance with the administration process” and to field inquiries.
The directors of Kleenmaid have issued a statement via the YouTube service that can be viewed from this link