The collapse of Theatre At Home and the struggles of the Lifestyle Store have left many customers and suppliers in a state of uncertainty and frustration. Amidst the chaos, one key figure, John Kranitis, has managed to evade the spotlight despite being a crucial player in the business operations.
Kranitis, often referred to as ‘The Managing Director’ of the Lifestyle Store, was responsible for handling installations and developing systems for both the Lifestyle Store and Theatre At Home. Despite claiming that there were no issues with Theatre At Home and attributing the store closures to staff problems, it has come to light that the businesses were facing financial difficulties and were unable to pay rent or staff.
While Kranitis was not listed as a shareholder of either company, he was heavily involved in decision-making processes. As the businesses have been placed into administration, customers who placed deposits on goods and services are now left out of pocket for millions.
Furthermore, the closure of the Lifestyle Store has created a void in revenues for suppliers in New South Wales, with many in the industry expressing concerns about the impact on the AV and audio industry in the region. Despite these challenges, there are rumors that Kranitis’s business partner, Vinod David, is looking to re-enter the industry with a new entity, raising questions about how he plans to fund the venture and whether suppliers will be willing to support him.
As the drama continues to unfold, the future of the AV and audio industry in New South Wales remains uncertain, with many stakeholders wary of getting involved with individuals associated with the troubled businesses.