Carrafa says the successful sale demonstrates the benefit of seeking help from administrators at an early stage. We often find ourselves filling every waking moment with activity, thinking that this is the only way to get ahead. All orders pre-dating July 2, 2022 please contact Hamilton Murphy on (03) 8866 7600. Elliot* worked for Sneakerboy from 2017 and is owed $15,000 from 220 hours of annual leave and roughly 12 months of superannuation that he never received after quitting in January this year. However, it re-emerged following a sale to a party relating to one of the directors, Carrafa said. "We thank God first, and we thank all our customers, suppliers, and the passion of our team. If you have any further questions please email help@sneakerboy.com as this is the best avenue for communication and questions to be answered.Kind regards,SNEAKERBOY. Along with shoes, theres also elated footwear such as flip flops, sneakers, wellingtons, etc. The company did score a legal win in 2020,after the Supreme Court of NSW ruled Sneakerboy be granted at least six months of breathing room to recover from Covid-19 business closuresbefore its landlord moved to evict the retailer or raise its rents. These retailers sell us the surplus stock from their inventory which we, in turn, sell on to customers. Thats because we often have special discounts (in addition to the ones that we already provide) especially after festivals and special occasions such as Black Friday. Editors note: The author of this article is a customer who was impacted by Sneakerboy going into administration. Administrators were appointed to Sneakerboy, which sells high-end footwear brands such as Balenciaga for more than $1000 a pair, and four other related entities, including operating company Luxury Retail Group, on Saturday. Sneakerboy previously fell into voluntary administration in 2015, owing to "conflicting interests of director and shareholders," administrator Michael Carrafa of SV Partners told SmartCompany at the time. NOTICE TO SUBMIT PARTICULARS OF DEBT OR CLAIM IN A SIMPLIFIED LIQUIDATION PROCESS - 5.6.39(2)and(3) . Notice is given that, on the resolution date set out below, the Company is taken, because of paragraph 446A(1)(a) to have passed a special resolution under s491 that the Company be wound up voluntarily. Give us a call Monday through Friday from 9:00am to 5:00pm EST. $20.00. SmartCompany acknowledges the Traditional Owners of the many nations across Australia, and pay our respect to Elders past and present. Frustrated customers have bombarded the companys online platforms and review sites in recent months over delayed orders dating back to January. No update. Vanda Carson court reporter 2 min read April 15, 2022 - 11:30AM QLD News Help using this website - Accessibility statement, Sneakerboy, which sells high-end footwear brands such as Balenciaga for more than $1000 a pair, had external administrators appointed by Sydney-based financier Octet Finance. Hi Jo,Thank you for taking the time to review Sneakerboy. Looking for a new job or job candidate? An investigation is now underway to determine whether Sneakerboy traded while insolvent. Hamilton Murphy declined to comment when contacted by 7NEWS.com.au while Fraser Group did not respond. According to a Personal Property Securities Register (PPSR) and filings with the Australian Securities and Investments Commission, Stephen Dixon of Hamilton Murphy was appointed administrator by Sydney-based financier Octet Finance. Kind regards, Sneakerboy. Any person intending to appear at the hearing must file a notice of appearance in accordance with the rules, together with any affidavit on which the person intends to rely, and serve a copy of the notice and any affidavit on the plaintiff at the plaintiff's address for service at least 3 days before the date fixed for the hearing. Its always great to get us in earlier as there is a better chance of survival, in this case they got it early and there was a solution, he says. Placed an order on 26/05/2022 and it's been almost a month with no updates.I tried to contact their customer service via email - no response, tried to message them via Instagram - no response.As a first-time customer, I wouldn't come back or recommend anyone to buy here! The latest stories, funding information, and expert advice. Sneakerboy closed its Brisbane store and removed its listing from its website in early April, leaving it with three stores in Victoria, at Southwharf DFO, Chadstone Shopping Centre and a flagship store on Little Bourke St, as well as a store on George St, Sydney. All Rights Reserved, Why you shouldnt give a hundred percent at work, Frank Green releases new product after Bunnings hack goes viral on TikTok, Australias top 25 most in-demand jobs revealed, Long-running Instagram feud between vitamin brands JSHealth and Life Botanics heading to Federal Court, NBN and Starlink are ramping up the bandwidth battle for rural Australia, Off-grid cabin startup Unyoked raises $28 million to expand in Europe, How Sendle managing director Laura Hill made the unconventional path work for logistics, and what your business can learn, There are reasons why staff ignore your emails. Follow the topics, people and companies that matter to you. The first question most of you will have is: where do I buy my inventory? Kyvetos unique retail strategy involved no till, no fixed point of sale and no on-site inventory at Sneakerboy, with all stock stored in Hong Kong. Hamilton and Murphy liquidator Stephen Dixon said in a report to the Australian Securities and Investments Commission (ASIC) in December that Sneakerboy attributed its financial hardships to the pandemic. This has been a really upsetting experience - I ordered my first ever designer item one month ago after a friend recommended Sneakerboy to me. Established in 2013, SNEAKERBOY was founded on the idea that sneakers and streetwear were becoming icons of luxury. Up untill now I still haven't got any updates and the status till states thag it's on "Backorder". Tried ringing the phone numbers on their website but no one picks up the phone. An application to wind-up Luxury Retail Group was made by Melbourne-based Banjo Loans holding company FundIT Limited in June in the Supreme Court of Victoria. AU. Sneakerboy owes money to 57 firms, with only two secured creditors - Octet, which is owed nearly $2.8 million, and Luxury Retail Treasury Pty Ltd, which has 12.3 million in payables . At this meeting, details will be provided to all stakeholders in relation to the financial and structural position of the companies. Sneakerboy was hit hard early in the coronavirus pandemic when international borders were closed and its core customers cashed-up tourists and students disappeared. Please look for an email from Hamilton Murphy outlining the actions around past orders. Sneakerboy, which sells high-end footwear brands such as Balenciaga for more than $1000 a pair, had external administrators appointed by Sydney-based financier Octet Finance, as well as to four other related entities, including operating company Luxury Retail Group, on Saturday. No delivery No refund. An application for the winding up of Sneakerboy Pty Ltd was commenced by the plaintiff Adidas AG (HRB 3868) on 16/03/2020 and will be heard as set out below. I am furious!!! April 2, 2015. The retailer, which sells brands such as Alexander McQueen, Valentino, Dior, Nike and Adidas, was forced to close stores during lockdowns through 2020 and 2021. Here you'll find some of the best shoe liquidation truckloads that you can use for starting up your online business. These discussions are now being urgently escalated by the administrator as part of the voluntary administration process.. My husband was told to pick up in store, went there the next day and they are closed! Sneakerboy is facing a number of legal headwinds including a push by former supplier Adidas to have a court appoint a liquidator amid a standoff over a $148,000 bill. These liquidation truckloads are offered at a supremely heavy discount compared to their market price. Please look for an email from Hamilton Murphy outlining the actions around past orders. Sneakerboy, which sells luxury sneakers and street wear, collapsed into administration on Saturday. Well, purchasing branded shoes from the market can be a little hefty for your pocket. The business, which sells shoes like Balenciaga and Canada Goose for well north of $1000, has faced scandals and multiple wind up orders in recent years. SmartCompany understands Sneakerboy turns over around $50,000 per week and Carrafa says its a strong business model. Hamilton and Murphy liquidator Stephen Dixon said in a report to the Australian Securities and Investments Commission (ASIC) in December that Sneakerboy attributed its financial hardships to the pandemic. Hi Mel,Thank you for taking the time to review Sneakerboy. But is this really the case? 2023 RLA Excellence Awards Winner: 'Innovation Solutions Partner' Read the Press Release. Technology, diversification, multiple resale channels, demographics, worldwide supply and demand, 13+ years of experience, are just some of the parameters we use to optimize recoveries. A US bank is on the brink of collapse and its owners are debating whether it can go on after racking up $1 billion in losses. Please reach out to us at help@sneakerboy.com with your order number and SBiD and someone will be in contact with you as a priority to look into your order status for you. Sneakerboy was founded by Melburnian Chris Kyvetos, who was credited with pioneering a luxury retail revolution by The Business of Fashion. 2023 Trustpilot, Inc. All rights reserved. But only two months earlier, it was promoting a sale, offering up to 60 per cent off of shoes, many of which would ultimately never be delivered. Hi Noa,Thank you for taking the time to review Sneakerboy. Toxic chemical threat to WA drinking water supply: Real threat, Australians warned to watch out for $198.82 myGov refund, Woman sued for quiet quitting while working from home, This Channel 7 reporter drove an EV from Brisbane to Cairns. People who write reviews have ownership to edit or delete them at any time, and theyll be displayed as long as an account is active. $499.00. But others are unlikely to be as fortunate. The difficult but prudent decision has been made to initiate the voluntary administration process. Kind regards,Sneakerboy. Another said: Hi, if you guys dont ship my order, I am going to file a chargeback with my bank as you are not responding to my emails either.. I have sent emails and messages to there instagram and have still not got a response. How can you lose money when your drops sellout? Heres why it wasnt all smooth sailing, Not looking positive: Drastic measures Aussies are taking to find a rental, Cost of living crisis laid bare as metric indicates worst outcome since early days of pandemic, A $60 payment appeared in this Aussie mums bank account. They lie to their customers, take your money and claim that they have a backlog of orders which is why there is a delay with dispatch. Cult retailer Sneakerboy has been sold after collapsing into voluntary administration in February. We also ensure all reviews are published without moderation. Our site will be temporarily unavailable during this time. Sneakerboy is 50-50 owned by holding companies held by directors Theo Poulakis and Nelson Mair, according to regulator filings. Our site will be temporarily unavailable during this time. I realised that they were fake, cause the paint or whatever it was, came off from the mid sole. Do not buy from them. No where did it say it was a backorder for it, they also didn't provide a time frame for when it should be in stock. Embattled luxury footwear and streetwear retailer Sneakerboy is up for sale after falling into administration due to financing problems. Run this search agent and email me with matches: Dixon estimated in the report it would take between 12 to 18 months to complete Sneakerboys liquidation. Adidas launched liquidation proceedings against the niche retailer in March, claiming it was owed $148,000. Luxury shoe retailer Sneakerboy has gone into voluntary administration following a wave of controversy. Worst experience I have ever had with a retailer. Unfortunately during busy sales period orders can be subject to additional processing and shipping times however we are working hard to get products out to our customers as quickly as possible.Please reach out to us at help@sneakerboy.com with your order number and SBiD and a member of our support team will be in touch with further information as a priority.Kind regards,Sneakerboy. Based on my inquiries to date, l am of the opinion that the companys failure can be attributed to a deficiency of working capital, poor financial control and poor strategic management of the business, he said. The move was confirmed in a notice of appointment released by the Australian Securities and Investments (ASIC) on Saturday, with Stephen Dixon from insolvency firm Hamilton Murphy Advisory chosen as administrator. Profits!! I would give no stars if I could. Luxury retailer Sneakerboy facing a liquidation push from Adidas is also being pursued by the ATO for $1.2m in unpaid super and taxes. Sneakerboy Pty Ltd: ACN: 603 960 961: An application for the winding up of Sneakerboy Pty Ltd was commenced by the plaintiff Commissioner of State Revenue on 13/11/2019 and will be heard as set out below. JA. Hi everyone see the below from the administrators on orders:All orders from July 2, 2022 will be fulfilled by the Administrators moving forward. All times AEDT (GMT +11). Quicklotzis among the top 5,000 fastest growing private companies in America. Sneakerboy previously fell intovoluntary administration in 2015,owing to conflicting interests of director and shareholders, administrator Michael Carrafa of SV Partners told SmartCompany at the time. When you purchase your shoe liquidation truckloads from us, you get them at a much cheaper price than what is offered in the market. The voluntary administration appointment has been made due to short-term financing difficulties being experienced by the company, administrators Hamilton Murphy said in a statement. Hi there.Thanks for taking the time to write us a review.We're currently experiencing high order volumes which have caused fulfilment delays. Thank you for your understanding! Im actually exhausted off this company now order number 321701 and 310206PLEASE DONT BUY FROM SNEAKERBOY, Hi Tyrone,Thank you for taking the time to leave us a review.Unfortunately like most other companies, during busy sale periods there are likely to be picking and shipping delays while we work through higher volumes of orders. Order number 319669, Hi Julie,Thank you for taking the time to leave us a review.Unfortunately during busy sales periods customers may unfortunately experience some delays while we work through large volumes of orders.Rest assured your order will be arriving to you shortly, and we will reach out to you with further updates as to when it is arriving.In the meantime, please let us know if you require any further assistance.Kind regards,Sneakerboy. Sneakerboys Facebook page is riddled with people complaining they had not received their orders. These retailers sell us the surplus stock from their inventory which we, in turn, sell on to customers. A number of companies hold security interests over Sneakerboy, including local subsidiaries of footwear brands ASICS and Nike, according to searches done by The Australian Financial Review. I purchased a $200+ sweater over two months ago. If you wanna cancel the order and refund, thats fine but atleast communicate. Please reach out to us at help@sneakerboy.com if you have not yet heard back from us and we will endeavour to respond as a priority.Kind regards, Sneakerboy. Hearing details The details of the hearing are: Copies of documents filed may be obtained from the plaintiff's address for service. As a result, your margins tend to be hefty and lucrative when you sell these products through your online store. If you have any further questions please emailhelp@sneakerboy.comas this is the best avenue for communication and questions to be answered.Kind regards,SNEAKERBOY, Why does this company think its okay to cancel my delivery and move it to a store and tell me to go pick it up. Be honest, dont treat (people) like that plus I wont ever buy stuff from them again, he said.