Pensioners lose thousands as furniture store collapses
BREAKING: Pensioners and business owners are among those left out of pocket as administrators take over furniture retailer Far Pavilions.
Located at Home Central on Kawana Way, Birtinya, Far Pavilions Kawana closed along with stores at Browns Plains and Townsville after the Queensland business was taken over by external administrators PPB Advisory on July 8.
A pensioner, who spoke to the Daily on the condition of anonymity, said there had been a "huge crowd" at the Kawana store on Saturday, July 9.
She and her husband had ordered a lounge suite from Far Pavilions and had gone to the shop on July 9 to ensure their money wasn't lost. When their turn came to be served, she said, a young shop assistant promised one of the lounges would be delivered the following week.
But two days before it was due to arrive they received a call from the administrators telling them all assets had been frozen and not to expect a refund, she said. The woman and her husband lost $1500, and they lodged documents with the administrator but hadn't heard back, she said.
"We are aged pensioners and can't really afford the loss....this week we ordered a cheap couch from Fantastic Furniture to be made in six weeks. Let's hope they don't go bust!" she said.
Customers with gift vouchers, including Currimundi business owner Pamela Beesley, also remain in the dark about whether these will be honoured.
Ms Beesley had in the past bought furniture from Far Pavilions for her hair and beauty salon on Nicklin Way, but it was a gift voucher that took her to the store on Sunday. She was shocked to find it closed.
"I was in there a few weeks ago trying to find cushions, and they didn't say anything then," Ms Beesley said.
"I've got a business myself and if I was to sell gift vouchers I wouldn't close my doors without telling my customers first."
The Daily understands the first creditors' meeting was held in Brisbane on Thursday, July 21.
Founded in 1995 in the Brisbane suburb of Paddington by current CEO Michael Edwards, Far Pavilions Interiors Pty Ltd imported furniture from around the world. Brisbane-born Mr Edwards went to school in Nambour and moved away from the Sunshine Coast at age 21.
PPB Advisory has received offers for the purchase of the business and was now "progressing negotiations with the preferred party", according to a statement to the Daily today.