NATIONAL electronics repair chain Telefix Group has been put into the hands of administrators just days after selling its operations to NSW-based Australian Repair & Service Solutions (ARSS) for $1 million.Administrator Geoff McDonald, of Hall Chadwick, said ARSS had decided to discontinue operations at five Telefix branches, including Balcatta and Myaree. Ten WA staff are thought to have been made redundant.Telefix Group’s assets are believed to total $4.3 million, although that figure could be dramatically reduced by other business liabilities, including the entitlements of Telefix’s 250 national employees.Sydney-based financier Continental Venture Capital, associated with ARSS, is owed $2 million by Telefix.Manager of Telefix Belmont Darrel Holten said last week the business was still trading.Telefix made its name as an operation of listed industrial group Hills Telefix. In 1996, Hills Industries sold out of the Telefix chain.Hills Telefix, which has stores at Myaree and Joondalup, is not connected to the Telefix Group.
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