Geoffrey Handberg, of Rodgers Reidy in Melbourne, was appointed as liquidator of Mattress Supermarket on July 13. He was not available for comment this week.
A creditors' meeting for TMS Franchising is scheduled for July 29.
There are five owner-operated Mattress Supermarkets in Australia: four in Queensland and one in Melbourne.
The stores – Jindalee, Windsor, Bundall and Capalaba in Queensland, plus Mentone in Victoria – are separate trading entities and are continuing to trade.
It's believed two stores, on the Gold Coast and in Mornington in Victoria, have been closed.
One storeholder told SmartCompany it was "business as usual", although the liquidation had already had an effect on his business, with customer concerns over lay-by arrangements.
The storeholder says he has good relationships with suppliers, but in the longer term, arrangements might change given the tough market for small retailers.
Others welcomed the greater independence and said they were excited about their future.
According to its website, the Mattress Supermarket was founded in 2004 to provide a need in the mattress retail market for a low-cost model with high-quality products and brands.
"The Mattress Supermarket is exactly that – specialising only in mattresses," it says.
"Based in Brisbane and Melbourne, The Mattress Supermarket know mattresses and have years of experience to ensure you buy the best mattress for your body."
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written by Ray Borradale, July 27, 2011
