melbourne based audio and home entertainment retailer Hollywood Cinema Store has been placed into liquidation as the specialist audio market struggles to survive in a changing market.

The Victorian business which has been struggling for some after being restructured back in 2019 was operating two stores, what’s not known at this stage is the total level of debt the business has, or which suppliers have been impacted, one supplier claims that the debt is over $1M.

This time last year it was the Sydney based Lifestyle store that collapsed, leaving behind a trail of debt for suppliersestimated to be over $20M  after an attempt by the CEO of Hudson Homes to grab stock and sell it after he loaned a sister business $5M.

Theatre at Home was also placed into administration after Danny Assagby, the CEO of Hudson Homes and Build Buddy, became involved in a messy attempt to grab assets of the Lifestyle Store ahead of the goods being seized by administrators.

Theatre at Home had eight stores in Sydney, Melbourne, Brisbane, Adelaide, and the New South Wales Central Coast, which closed in April with one creditor allegedly owed $4.5million.

According to the Hollywood Cinema Store web site companies set to be affected are Yamaha, Westan…