Liquidators have confirmed that customers who ordered products from failed reseller Warehouse1 won't receive refunds for purchases they haven't received.
Melbourne-based Warehouse1 sank into liquidation last month with $3.8 million in claimed debts. Among those debts was $1.2 million to unsecured creditors, including $683,000 owed in customer refunds.
Liquidators SV Partners are yet to indicate the likelihood of a return to unsecured creditors. The most recent liquidators report estimated the realisable value of Warehouse1's assets at just under $200,000.
Instead, the liquidator has recommended that customers who are affected contact their credit card company to dispute the transaction if goods are defective or haven't been received.
SV Partners also noted that customers that paid for their goods via direct debit would rank as unsecured creditors, and any return is still dependent on the recoveries after selling off Warehouse1's assets.
Customers have since taken to online forums with complaints that they have not received their orders, or are still waiting on a refund. The liquidators noted that customers could lodge a claim against the company for any losses sustained.
Warehouse1 also has secured debts in the millions with the likes of Ingram Micro, Dicker Data, Synnex, Commonwealth Bank, Bluechip Infotech and Multimedia Technology.
The company operated an online retail store and brick-and-mortar location in Melbourne for four years before going under. Warehouse1's website and social media pages have been removed since the liquidation began.
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