Blames economic meltdown in Western Australia.
After 28 years of operation, Western Australian retailer Kambo’s has placed itself into voluntary administration. Cameron Shaw from Hall Chadwick has been appointed as Voluntary Administrator.
A statement provided to Appliance Retailer by Peter Kambouris, explains the reasons behind the failure of the business.
“It is with great disappointment that we announce that Kamb Investments Pty Ltd, more commonly known as Kambo’s, has with other businesses placed itself into voluntary administration,” the statement said.
Maria and Peter Kambouris at the Smeg Dolce & Gabbana event at EuroCucina in April
“The tough retail climate that faces Western Australia has taken its toll on this local appliance business that has been operating since 1990.
“The owner wishes to thank his loyal and hardworking staff, his loyal customers (spanning almost 3 decades) and the belief his suppliers have had in his business.
“He is devastated that after so many years in business that this has been the outcome.
“Whilst taking responsibility for the outcome the owner went on to say that the retail economic meltdown in WA as a result of two seasons of mild summers and late winters which has resulted in a significant decline in sales, and the general uncertainty by consumers are the main reasons for winding up the business,” the statement concluded.