Jeweller Kleins Collapses Owing $20m

Melbourne Herald Sun:

Australian jewellery retailer Kleins has been placed into voluntary administration after the company collapsed owing more than $20 million.

Ferrier Hodgson partners James Stewart and George Georges have been appointed as administrators of the Kleins Group, which includes Kleins Franchising, The Jewellery Chain and JDA Imports.

Mr Stewart said it is too early to assess the company’s exact financial position.

‘We have only just started going through the books so it is too early to comment on the scale of the debt or the depth of the company’s financial position,’ he said.