Two Harvey Norman Co’s Placed in Administration

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Two Harvey Norman companies have been put into administration.
Sydney based Liquidator, David Levi, has been appointed to act as administrator for two “wholly owned” Harvey Norman Holdings subsidiaries ‘Lesandu CP Moorabbin Pty Limited’ and ‘Lesandu CP Moorabbin Braybrook Pty Limited’, announced in a statement to the ASX yesterday.

No other details were given.

 It is not known how much these Harvey Norman subsidiaries owe but David Levi told Channel News he is “in contact with the creditors and is currently organising a creditors meeting.”

A creditors meeting for both companies is scheduled to take place next week according to a separate ASIC notice.

Both companies were registered with ASIC as of the 5/07/2010.

This comes after Harvey Norman held its shareholder AGM earlier this week, where Chairman Gerry Harvey predicted a slew of retailers will go under next year, although insisted Harvey Norman won’t be one of them.

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