Court orders wind-up of iStore
Computer and electronics shop iStore has closed its doors, with the Commercial Court ordering the wind-up of the company to pay outstanding debts.Winding up includes the dissolution of all legal and financial affairs of the business, but the business’ corporate existence continues for the limited purpose of paying, settling, and collecting debts.The Commercial Court heard that the store owed thousands of dollars in back rent to Pittsdown Developments Ltd, which owns the section of Washington Mall where the store was located.Lawyer Dennis Dwyer of Wakefield Quin, who is the lead litigator on the case, said the store had officially closed on Thursday.It is now expected that the Registrar of Companies will sell the business’s remaining assets to pay the debts owed.Although the store sold and services Apple computer products, it was not listed as an authorised reseller or service provider.The iStore, which has been in business for a number of years, is not to be confused with iClick, a new branch of The Complete Office, which opened in late 2011.