HLB Mann Judd Partners Mr Todd Gammel and Mr Barry Taylor have been appointed Voluntary Administrators of Pylones International Pty Ltd (Pylones Australia).
Pylones Australia was established in 2011 as a subsidiary entity to build an Australian Pylones business. Pylones is a French gift brand established in Paris in 1985. It designs, produces and distributes a collection of brightly coloured personal and home accessories.
Pylones Australia has not performed in Australia as expected due to a number of factors including the current difficult retail trading environment. As such, the business owners determined that further support would not be provided and, as a result, the Directors of Pylones Australia having considered the position resolved to appoint Voluntary Administrators.
The first meeting of creditors will be held on Monday 30 March 2015. In the interim, the Administrators are currently:
* Continuing to trade as a going concern whilst undertaking an urgent assessment of the Pylones Australia business; and
* Conducting an urgent marketing campaign and seek expressions of interest for the sale of the business and/or assets.
Tomorrow (19 March 2015) a sale will begin at Pylones’ Stores with 30% off all items.