The collapse of Leading Edge Group into voluntary administration has raised fresh concerns about the future of Australia’s independent retail sector, with regional record stores among the businesses facing immediate disruption after the buying group’s central billing model was frozen.
by Paul Cashmere
Leading Edge Group, one of Australia’s longest running retail buying groups, has entered voluntary administration after failing to meet its debt obligations, leaving liabilities exceeding $28 million and creating uncertainty for hundreds of independent retailers, including more than 50 music stores that relied on the organisation for purchasing, invoicing and supplier relationships.
The appointment of Henry McKenna of Vincents as…