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September 21st, 2009
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One of Australia’s most important designer furniture companies, Living Edge, has been placed in receivership.
Since Monday, speculations have been mounting as to the future of the 12-year-old company, which has been a significant supporter of the design community in Australia.
A report in The Australian confirmed today that the National Australia Bank called in McGrathNicol as receivers and managers, who will now “prepare to stabilise the business in prepartion for its sale”.
With showrooms in Sydney, Melbourne, Brisbane, Perth, Canberra and Adelaide, the fate of Living Edge’s 75 employees nationwide has yet to be determined.
The receiver has frozen all assets, leaving customers uncertain as to whether or not their orders will be received.
Receiver Keith Crawford told The Australian, “Living Edge will continue trading and looks forward to continuing support from employees, customers and suppliers”.
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