A Melbourne Bridal Boutique Has Gone BANKRUPT
The owners of a bridal boutique that has gone into liquidation has left 63 brides in the lurch, as they have closed their store.
Kerry Jane Smith, 43, and Matthew Robert Smith, 46, owners of Primrose & Finch, filed for voluntary liquidation last week, closing their Melbourne and Auckland stores.
They are believed to be back in Britain, leaving a debt estimated at $319,000 to former landlords, brides, designers, other creditors and Australian and New Zealand tax authorities.
Primrose & Finch's failure is not the Smiths' first. In Britain they were listed as directors of two dissolved companies, Fairytale Wishes Ltd (2007-2010) and Childhood Treasures Ltd (2005-2009). Both were struck off for failing to file annual returns.
A British Insolvency Service spokeswoman said there was no record of a "formal insolvency" but Smith, who is an accountant, was made bankrupt in 2011- a year after Fairytale Wishes' dissolution.
The company former landlord Cheryl Lily, is owed $44,000 said the they had defaulted on their rent several times in the past couple of years.
Employees have also spoken out, as they have been left unpaid and recounted seeing poorly made dresses and samples being sold as the real deal.
At least 10 designers have been caught up in the liquidation and many of them are frustrated over missing payments.