Industry News: Is this the end for Strathfield?
- Tuesday 4th October, 2011
Strathfield, once known only for specialist approach to car audio, according to a popular news website are once again facing voluntary administration with serious long term doubts about the success of the business.
'Strathfield Car Radio' originally founded in 1980 in the Sydney suburb of Strathfield. By 2005 it had 85 stores across Australia and had become more known for consumer electronics and mobile phones. In January 2009, the retailer was placed in administration due to reasons the board said were because of falling consumer demand and worsening economic conditions.
This week, preliminary final accounts showed a loss of $12.372 million.
Despite a recent focus back on the roots of Strathfield with car audio once more particularly in Victorian stores, it seems that the business model simply cannot be sustained in today's marketplace with many of the Victorian stores now already closed indefinitely. Only time will tell if the Strathfield name can truly be resurrected.
