Clive peters into administration

White-goods retailer Clive Peters has been placed into administration, a victim of the downturn in the retail sector and a $20 million fraud by an employee last year.
Clive Peeters in administration with $160M in liabilities $10M in cash.

Who is clive peters?
Clive Peeters Limited engages in the retail of electrical appliances and computer products in Australia. Its stores offer a range of kitchen appliances, laundry and bathroom products, home entertainment products, air conditioners, and barbeques, as well as computer products and peripherals, and various small electrical goods. The company operates its stores under two brands

www.clivepeeters.com.au/

This morning shares in Clive Peeters were placed in a trading halt, with the company saying it was in talks with its financiers.
Colin Nicol, Keith Crawford and Matthew Caddy of McGrathNicol have been appointed voluntary administrators of the retailer and its various entities.

McGrathNicol

McGrathNicol is an independent boutique advisory firm specialising in Corporate Advisory, Forensic, Transaction Services and Corporate Recovery. ...
www.mcgrathnicol.com/

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