A spokesman for the liquidators, insolvency accountancy firm Ferrier Hodgson, said the store was placed into liquidation on July 7 along with four other associated companies.  

The spokesman said Lido Warrrnambool owed about $20,500 to trade creditors and $153,000 to associated companies.

Lido Warrrnambool sold hair and beauty products on both a retail and wholesale basis.

The store would continue to gain income by selling stock at discounted prices and also look at other possible avenues to realise assets, the spokesman said.

He said the Lido Warrnambool store employed one full-time employee and four casuals and they would continue to be employed to help with the company’s wind up.

The spokesman did not say when the store would close.

Any supplier or other creditor who believed they were owed money should contact Ferrier Hodgson to lodge their claim in the liquidation process, he said.

The spokesman said there was a second Lido store in Mildura that was also placed into liquidation on July 7.

The Mildura store was operated under a different corporate entity to the Warrnambool store.

Another associated company within the group operated an online beauty store that closed prior to the liquidators’ appointment, the spokesman said.