Liquidators of an online at-home sauna retailer could probe loans to a director and travel expenses, after the company collapsed with almost $2m in debt.
Creditors of sydney-based Vikara Saunas, which sold saunas and cold plunges, voted to liquidate the company on Thursday after it ceased trading and went into voluntary administration in last month.
A report from the administrators lodged with ASIC last week said the company owed an estimated $1.9m, including $790,945 owed to customers for orders which hadn’t been sent.
The report from the administrators Nicholas Charlwood and Glenn Livingstone of WLP Restructuring said trade creditors, including a Chinese supplier, a warehouse, American Express and an insurer, were also owed $813,697.
The company’s landlord for its site in Caringbah was owed an estimated $200,200, as Vikara Saunas had entered a two-year lease in December – but this could decrease if the property was leased to a new tenant in the coming months.
The Australian Taxation Office had also issued letters of demand for overdue debts, as it was owed $61,952.
Two employees were owed about $12,646. Related creditors were owed $45,852.
Despite producing $3.5m in trading income over the 2025 financial year, Vikara…