Major retailer Johnny’s Furniture has gone into administration due to a “significant decline in revenue”.
The company had 15 stores in Australia at the height of its 10-plus years in operation. That has been reduced to eight — four stores in Queensland, three in New South Wales and one in Victoria.
Company directors are scrambling to fill orders amid their financial woes.
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“Whilst my appointment is in its infancy, my preliminary investigations indicate that the company had a significant decline in revenue during the 2024 financial year, which likely contributed to the director’s decision to place the company into voluntary administration,” administrator Shumit Banerjee, of…
