John Kranatis a former bankrupt and the business partner of Vinod David in the running of both the failed Lifestyle Store and Theatre At Home which are both in liquidation, is back spruiking customers to sign up for custom install deals.

This is despite questions being raised over his past business deals, missing stock and millions taken in deposits from customers he has engaged in in the past who don’t have what they paid for.

ChannelNews understands that Kranatis has teamed up with former Lifestyle Store executives Peter Kassis, the former Store Manager at the failed Lifestyle Store, which is believed to have debts of over $20M with creditors report due on July 9.

Also involved in the new business that has obtained the customer list of both Theatre At Home and The Lifestyle Store customers, is Jesmond Prasad a former Lifestyle Store technician.

ChannelNews has evidence that Kassis has been approaching former customers who have lost millions in deposits after goods and jobs they had part paid for and not delivered telling them that if they pay additional money the business will complete the job.

Customers are angry with Kranatis also turning up unannounced at customers’ homes in what appears to be a desperate effort to get them to re-invest in getting a new home theatre installed by a questionable operator.

In one message sent by Kassis to a former customer who had lost his deposit and stands little chance of getting it back via the administration process, he wrote “Hi Troy, I hope you and your family are well just touching base to see when would be a good time ,to pop over. I have tried calling your mobile and sent texts.”
He claims he is still employed by the Lifestyle Store which is in administration.

Troy said, “I have been approached by employees of the Company (The Lifestyle Store) saying if I keep paying, they will make sure I still get my install.”He added Definitely won’t be paying anymore and I am quite upset they have the balls to ask for more money.”

John Kranatis for Director of  LTR Group and Lifestyle Store Australia Pty Ltd,

One of the Companies at the centre of all this is Control 4 distributor Snap One and executive Adam Merlino who according to sources has provided the Kranatis linked Company with an account” that allows them to sell Control 4 systems.

Another Company that has opened an account for the new business run by the questionable operators is the Premium Audio Company who ChannelNews understands has 300 boxes of Klipsch speakers being held at Greys online that had originally been supplied to both Theatre At Home and The Lifestyle Store.

Merlino is not returning our calls.

Resideo Technologies recently agreed to buy Snap One for $1.4 billion, we are still waiting to see what their executives say about the opening of an account for a Company in Australia that includes an executive who could be facing a criminal investigation relating to the Lifestyle Store and Theatre At Home.

According to Phil Newton the CEO of Masimo Consumer he received an application for an Account from Kranatis but “rejected it.”

Kranatis has already been accused of being involved in Companies whose executives have been accused of running “dodgy books, missing money, and revealed damaging information” re previous loans.

This information emerged after an accountant who was asked to loan an additional $2M on top of $5M they had already borrowed insisted on seeing the books. As soon as he realised what was happening, he walked away and days later Theatre At Home was placed into administration.

Kranatis a former bankrupt has been described as a ” hopeless businessmen who knew how to spin a yarn but struggles to tell the truth”.

Weeks out from The Lifestyle Store being placed into administration he told ChannelNews that the business was “Going well” he claimed that new investors were on board.

What he failed to mention was that he and Vinod David had set up a new business with the intent of switching the assets of the Lifestyle Store into a new business.

The business was supposed to get an injection of $2M and all the assets of the Lifestyle Store would be transferred into the new business Lifestyle Store Australia Pty Ltd.

The shareholders would have been Arthur S the accountant who exposed serious issues with the previous actions of Vinod David and Kranatis, he would own 2% of the shares Danny Assagby via Travolta Holdings who invested and lost $5M via TAH would own 35% and a new business LTR Group which was controlled by Vinod David and John Kranatis would control the business via a 63% shareholding.

Several Snap One dealers, have approached ChannelNews claiming that they are “Disgusted” with the Companies actions in providing the questionable Company access to Control 4 systems.