The Howards Storage World gets Deloitte appointed as administrators
The home specialty storage retailer Howards Storage World has appointed Deloitte as voluntary administrators, with the view of selling the popular business.
With the company pledging to keep trading, the business has 59 stores across Australia, 29 of which are in the hands of Deloitte partners Vaughan Strawbridge and David Lombe.
The company has a loyalty program with 600,000 members.
The Australian reported company’s 2012 accounts were the last filed with the corporate regulator ASIC showing a then breach of foreign funds financial covenants though making a $396,401 profit. There was $39 million annual revenue.
The company started as Stack and Store in Northbridge in the early 1970s.
It moved into franchising in the late 1990s.
The Australian Financial Review advised its co-founders were Leslie and Edda Howard who formed a partnership with Dirk Spence in 1997.
According to documents filed with the corporate regulator Dirk Spence and Pauline Donald are directors.
Leslie Howard stepped down as a director in September.
