More jobs to go at Crazy Clark’s      

    AAP
    July 18, 2014
    The Australian
   

RECEIVERS for discount retailers Crazy Clark’s and Sam’s Warehouse have announced the closure of another 26 stores, with 413 more jobs to go.      

Following the collapse of parent company Discount Super Group, receivers KordaMentha have been looking to shut unprofitable stores while finding buyers for the profitable ones.

Almost half of the Crazy Clark’s and Sam’s Warehouse network, 66 stores, have ceased trading or have been earmarked for closure with more than 1000 people to lose their jobs.      

After a two-week campaign to find buyers for shop leases and businesses, the receivers said they had received 55 expressions of interest.

Prospective buyers will now be asked to submit firm bids.

DSG was placed in voluntary administration on July 1, the second time owner Jan Cameron has put the discount store brands into the hands of receivers in two years.

Ms Cameron, best known as the founder of outdoor goods retailer Kathmandu, placed the two brands into administration in 2012 with $170 million in debt.

She later bought them back for just under $60 million, but has ruled out buying the chains back for a third time.

The 26 affected stores will close on July 27, unless they run out of stock before then.

Laugh till you cry wrote on Jul 18^th, 2014 at 6:32pm:



                                                            




Not that there's anything wrong with that.