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EXCLUSIVE: Harvey Norman Suppliers Still Waiting To Get Paid After Store Operator Collapse

Suppliers to Harvey Norman Commercial in NSW, whose franchisee was placed  into administration earlier this month, with what is believed to be millions in liabilities, are struggling to get answers as to when, or even if they will be paid, out by Harvey Norman head office.

Three distributors have told ChannelNews that the accounts department at Harvey Norman Commercial are not returning calls.

The suppliers also claim that there are no indications that Harvey Norman head office, who have no obligation to honour the previous operator’s debt, will pick up the tab for tens of millions of dollars’ worth of stock supplied to the Harvey Norman controlled business, which was described by the former franchisee Alan Stephenson as “The most profitable Harvey Norman store in the world” before administrators were called in.

Stevenson was sacked recently after a forensic accountant and police investigation of the business which was operated by Druin Pty Ltd whose sole director was Alan Stephenson.

The Australian Securities and Investment Commission were recently advised that Alan Shepard of Sutter Shepard a NSW based receiver, has been officially appointed as receiver and manager of Druin Pty Ltd.

Harvey Norman Commercial is continuing to trade as normal.

A former Harvey Norman franchisee claims that that some suppliers could get paid out by Harvey Norman while other will be left to make an insurance claim.

Those without insurance could be left carrying the debt if Harvey Norman fails to step up and pay out millions in stock liabilities, said one observer.

Alan Stephenson who was sacked by Harvey Norman was a close friend and former business partner of Harvey Norman Chairman Gerry Harvey who has so far failed to comment on the downfall of his close mate.

Stephenson who owns property investments worth millions, via different entities to the one that ran Harvey Norman Commercial is believed to still under investigation by forensic accountants.

Alan Stephenson left with long time mate Gerry Harvey.

He operated the business for more than 30 years, several of his former staff have been charged with theft of over $600,000.

Suppliers who ChannelNews has spoken to claim that there has been had no communication about the monies owed for stock or whether stock will be returned.

One custom install supplier said “We are owed a lot of money and no one in the accounts department or in the Company is returning calls. No one has made any attempt to contact us we don’t know whether we will get paid”.

Another supplier said if we make an insurance claim on the stock, we are going to lose money as the insurance Company takes a fee, for example on a million dollars this could be $200,000”.

Harvey Norman Director David Ackery has not responded to our questions re the missing superanuation, or the possibility of Harvey Norman paying out suppliers to Druin Pty Ltd who traded as Harvey Norman Commercial.

Ackery is believed to have known about the superanuation shortfall claims for several years.

 



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