TVSN shopping network closes after 30 years; shutdown sale starts Tuesday
TVSN closes after parent company fails to find a buyer; suppliers claim they are owed thousands.
TVSN, which has sold fashion, homewares and accessories to Australian viewers for more than three decades, will shut down. Direct Group, which owns TVSN, could not find a new buyer or investment.
A closing-down sale begins Tuesday to clear stock, but will stop if a buyer is found. Customers were urged to use gift cards and vouchers early, as stock is limited and won't be restocked.
Multiple small suppliers say they were not warned of the closure and are owed thousands in unpaid invoices. One supplier said TVSN owes tens of thousands.
Direct Group also publishes Reader's Digest Australia.
- 1995
- Operating since
- Direct Group
- Parent company
- Tuesday
- Sale begins
- Tens of thousands
- Owed to Philosophy Australia
Why it mattersSmall businesses that relied on TVSN face sudden cash shortfalls and potential losses; customers risk unused gift cards if they don't act fast.
AustraliaAustralian suppliers and customers lose a major retail platform, with some businesses facing serious financial risk from unpaid bills and unsold inventory.
✓ Claims checked against the source. checked 5 h ago
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