The business behind alternative clothing, body piercing, and former bong retailer Off Ya Tree has fallen into liquidation, as the retail chain assures customers a dozen stores will remain operational.
Con Kokkinos of insolvency firm Worrells was appointed as liquidator for Thendro Pty. Ltd on Thursday, according to documents listed by the Australian Securities and Investments Commission (ASIC).
Thendro Pty. Ltd is listed as holding the Off Ya Tree business name, along with the Punktured body piercing and tattoo studios.
It is also listed as the corporate overseer of TBS Online, also known as The Bong Shop, an online retailer of smoking pipes, grinders, and related items.
While Off Ya Tree earned a reputation for selling bongs over its decades-long history, it has focused on cannabis-themed clothing and novelty items in recent years as states and territories have clamped down on the sale of drug paraphernalia.
Taking to Facebook on Friday, Off Ya Tree management confirmed a string of stores had closed in recent months.
“It is with great sadness that we have had to close our doors at our Adelaide, Coolangatta, Byron Bay, Cairns, Perth, Surfers Paradise, Mt Ommaney, Newtown and Northland stores,” the post read.
“This is the result of the aftermath we have been facing from these past years of lockdowns and the rising cost of running a business in this turbulent time.”
The closures resulted in the loss of retail staff, along with warehouse and head office personnel.
“No words can express how much this saddens us,” the post continued.
“We’re NOT a corporate conglomerate. We are a small family business built right here in Australia.”
Despite the closures, the liquidation of Thendro Pty. Ltd, and an “unclear” future, other stores in the Off Ya Tree retail network will stay open, the company claimed.
“We still have 12 locations that are still firing hard and have wonderful, solid teams holding it down,” it said.
SmartCompany understands the remaining retail stores in Victoria and Queensland were open for business and operational as of Monday morning.
SmartCompany has contacted Off Ya Tree and Kokkinos for comment.
More to come.
Senior Business Journalist
Focused on the small business sector, David’s work covers the political, regulatory, and economic issues facing Australian entrepreneurs. Prior to joining SmartCompany, he was a reporter for Business Insider Australia. You can follow him on LinkedIn.
