The slump in retail spending has claimed another victim, with Queensland-based WOW Audio Visual Superstores placed in the hands of receivers and managers.

The company has about 500 employees, with 10 stores in Queensland and two in New South Wales, according to a statement from receivers and managers Ferrier Hodgson. WOW Audio Visual Superstores also has a single-store presence in Victoria, the ACT and the Northern Territory.

“WOW has been subject to declining sales and profitability which has escalated in recent months,” said Ferrier Hodgson partner James Stewart. “We will be seeking expressions of interest for a possible sale of the business as a going concern immediately.”…

via WOW Sight And Sound In Liquidation.