05/02/2020 - 15:54

Local retailer enters administration

05/02/2020 - 15:54

Bookmark

Save articles for future reference.

Outdoor sports retailer Mainpeak has gone into administration after the local brand suffered continued financial losses.

Mainpeak has three co-located stores in Cottesloe. Photo: Mainstreet (Facebook)

Outdoor sports retailer Mainpeak has gone into administration after the local brand suffered continued financial losses.

Mainpeak, which has three co-located stores in Cottesloe, has appointed HLB Mann Judd’s Kim Wallman as its administrator.

Speaking to Business News, Mr Wallman attributed the retailer’s collapse to discretionary spending and a lack of confidence among consumers.

“[Mainpeak] were making some modest losses over the years and it just got to the stage where their stock items weren’t as high as they would’ve liked,” Mr Wallman said.

“When you’ve got less items (sic) and ranges of stock to buy, people tend not to go there.

“That becomes a slippery slide because then you haven’t got the stock and you can’t buy more stock, and it goes on.”

Founded in 1984 by Richard and Sue Lushey as Wild West Adventure Equipment in Fremantle, Mainpeak sells outdoor adventure equipment, including clothes, boots, helmets, and hiking, snow and camping equipment.

“We’ve sent out social media posts saying we’ve got some heavily discounted items for sale, and we’ll probably trade for the next two, three or four weeks, depending on how it goes,” Mr Wallman added.

Mainpeak entered administration on January 31.

It adds to the number of recently collapsed Australian retailers, including Colette by Colette Hayman, Bardot, Harris Scarfe and Curious Planet.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options