POPULAR discount stores Crazy Clark's and Sam's Warehouse have gone into receivership.
David Winterbottom and Rahul Goyal of KordaMentha Restructuring have been appointed receivers and managers of DSG Holdings Australia Pty Limited ('DSG').
DSG operates retailers Crazy Clarks and Sam's Warehouse with 143 stores across Australia.
This follows the appointment of Steve Nicols of Nicols + Brien as voluntary administrator of DSG.
The Receivers have taken full control of the day-to-day operations of DSG and are working with the management of the company to explore various options whilst running a store/stock rationalisation program.
Mr Goyal said: "We will be immediately exploring the going concern sale of the profitable Crazy Clark's and Sam's Warehouse stores to interested parties".