Lockdown forces kikki.K into administration again
Stationery company kikki.K has gone into voluntary administration for the second time in 17 months.
Kikki.K co-founders Kristina Karlsson and Paul Lacy have written to staff to tell them the difficult news, The Australian Financial Review reports.
"Today is a sad day. Writing this note together is a sad task and we still can't quite believe it's happening - again," Ms Karlsson and Mr Lacy wrote to employees.
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A kikki.K store in Westfield Chermside. Westfield
"It's yet another tough moment in our amazing journey together and we understand and deeply regret that there will profound impacts for many of our amazing team members and our partners, suppliers and shareholders," they said.
The Swedish-inspired company, which was founded 20 years ago, first went into voluntary administration in March 2020.
It was then saved from collapse after a US-based lifestyle products company, Erin Condren Designs, took control last August.
Kristina Karlsson, from the kikki.K office supplies retail chain. Rodger Cummins
Ms Karlsson and Mr Lacy said the company's collapse was a direct result of the current lockdowns in NSW, Victoria and the ACT.
Administrators will now have the difficult task of finding a new buyer.
Kikki.K has 36 stores in Australia and New Zealand, about half are closed under stay-at-home orders and many of its 300 staff members have been stood down, the Australian Financial Review reports. kikki.K will continue to trade while administrators assess options for the business.
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