According to new documents lodged with the corporate regulator, one staff member, who started in 2020, was owed more than $30,000 in entitlements.
Before administrators were appointed, Sneakerboy was 50-50 owned by holding companies held by directors Theo Poulakis and Nelson Mair, according to filings with the corporate regulator. The chain’s operating company Luxury Retail Group is similarly split between Mr Poulakis and Mr Mair, although through four entities.by Sydney-based financier Octet Finance earlier this monthThere are only two secured creditors among the 57 firms Sneakerboy owes money to. They are Octet, which is owed nearly $2.
Luxury Retail Treasury Pty Ltd was among the entities put into administration earlier this month and Mr Mair and Mr Poulakis were the equal ultimate shareholders via four entities. It is unclear what the payable amount owed by Sneakerboy to Luxury Retail Treasury is for. Other creditors include more than $200,000 owed to Nike, more than $120,000 owed to Vicinity Real Estate, which operates the Chadstone shopping mall in Melbourne, $25,630 owed to Brookfield Commercial for its George St Sydney store, and $146 owed to telecommunications provider Optus.Sneakerboy was hit hard early in the coronavirus pandemic when international borders were closed and its core customers – cashed-up tourists and students – disappeared.
The retailer, which sells brands such as Alexander McQueen, Valentino, Dior, Nike and Adidas, was forced to close stores during various lockdowns through 2020 and 2021.
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