NOTIFICATION OF MISCONDUCT BY
WALKER STORES PTY LTD (IN LIQUIDATION)
TRADING AS 'SNAFFLE'
On 18 May 2026, the Federal Court of Australia found that Walker Stores Pty Ltd
(in liquidation), trading as 'Snaffle' (Walker Stores) breached the law by charging
its customers significantly more than permitted under the National Credit Code.
Between September 2021 and 27 February 2025, Walker Stores sold goods to more than 21,800 customers under credit contracts.
These credit contracts did not comply with the law about how interest can be charged. Instead, Walker Stores used an unlawful "flat rate" method to calculate interest. As a result, many customers were charged much more interest than they should have been.
The Court also found that some of the credit contracts Walker Stores entered into charged an annual cost rate that exceeded the 48% cap in the Credit Code.
The Court has imposed pecuniary penalties on Walker Stores totalling $33.5 million and has ordered it to publish this notice.
Where can you get more information?
- If you entered into a credit contract with Walker Stores between September 2021 and 27 February 2025 and your loan is still active, your loan has now been assigned to Identifier Analytics Pty Ltd. You may contact Identifier Analytics to check on the status of your loan, and to find out whether your loan is one of the loans that was found to be made in contravention of the law, by email: customerexperience@walletpay.com or telephone: 1800 577 484.
- The Court's judgment is here: ASIC Website