Hundreds of homeowners stranded by the collapse of WA whitegoods retailer Kambo’s are finally able to claim their goods.
Insolvency firm Hall Chadwick told a meeting of creditors yesterday it was arranging for customers waiting on goods paid for but not delivered before Kambo’s failed last month to collect the appliances from today.
Hall Chadwick’s Cameron Shaw, a joint administrator of the company behind Kambo’s, said the firm had to confirm the ownership of the appliances stored at the retailer’s outlets before contacting customers.
“It’s been quite a long process, but there are a lot of stakeholders and we have just been trying to manage all the legal requirements,” Mr Shaw said.
Some 500 customers who had fully paid for their goods were stranded when Kambo’s director Peter Kambouris called in Hall Chadwick to Kamb Investments, the owner of Kambo’s and its exclusive sister business Liebe + Haus, on June 8.
They will be able to claim their appliances if the goods were delivered to Kambo’s and have since been identified.
Others whose goods were not delivered before the collapse, or had products on lay-by, are likely to be out of pocket.
Yesterday’s meeting backed Hall Chadwick’s recommendation that Kamb be wound up, given a lack of interest in the group’s limited assets from potential buyers and the prohibitive cost of reopening the company’s stores.
The move crystallises big losses for NAB, suppliers and landlords, with Hall Chadwick tipping it will not recover enough from the wind-up to even cover its administration costs.
NAB has likely lost almost all of the $5.8 million it is owed and there is no prospect of any return to unsecured creditors owed $7.3 million.
Another $11.4 million was claimed by mainly suppliers under security charges held over whitegoods at Kambo’s.
More than 70 former staff, some of whom have been helping sort through customer orders, will have to recover the $2.2 million they are owed from the Federal Government.