Monday, May 25, 2009

Kleenmaid, Gold Coast

It appears that Kleenmaid Australia hit the skids in about November 2007.

THE founder of failed whitegoods giant Kleenmaid today apologised to creditors and staff who have been left $82 million out of pocket.

"I'd like to express my sincere sympathies to those people who have lost in the equation and the people who have faced financial losses as a result of what's happened," Andrew Young told the media after a meeting of Kleenmaid's creditors in Brisbane today.

"I understand that the loss is particularly difficult in this current economic climate that we're in and it's caused significant emotional distress to a number of people.

"As one of the directors of Kleenmaid I acknowledge things in hindsight could have done better in dealing with the global financial crisis and the enormous pressure on our company as a result."

I'm sure that would go over like a lead balloon, read more here. Real cute how they blame the GFC, too (that part was played on the radio).

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