Mobile phone retailer Allphones has closed 18 stores and made 69 people redundant after it collapsed into voluntary administration, putting at risk the jobs of hundreds more employees around Australia.
Allphones Group has 84 stores nationwide, comprising 25 company-owned outlets, seven franchises and the balance licensed to other parties.
The 18 stores closed on Monday were all company-owned stores, with administrators PPB Advisory saying there was not enough funding available to keep the stores trading while it attempted to sell the business.
Discussions are now under way with interested parties who could take over the operation of the remainder of the store network.
Canada's AMT Group bought the Allphones Group in May, 2016, with the ambition of turning the struggling business around.
"Despite financial support from the shareholder and significant efforts to deliver a successful turnaround, the shareholders are unable to continue funding the group's losses," a statement from PPB said.
Allphones ended its naming rights sponsorship of Sydney Olympic Park's former Superdome - now called Qudos Bank Arena - in 2016.
The ABC has reported that Allphones suffered a $25 million impairment in 2014 after it lost a contract to run 45 Virgin Mobile-branded stores across Australia.
