Three stores and staff.
Teds Camera Stores will acquire the Paxtons business, effective December 1, 2016. Teds will take over the management of its three stores in Chatswood, Parramatta and Hornsby with the majority of retail staff continuing under its ownership.
In a statement supplied to Appliance Retailer, Teds Cameras CEO, Nic Peasley said, “Paxtons is an iconic NSW Imaging Retail brand that we are privileged to welcome to the Teds family. The staff at Paxtons are all long serving loyal retailers and will be critical to the future success of this business under the Teds structure.
“Teds will now have an excellent footprint in Sydney which includes our flagship Pitt Street CBD store and the three Paxtons locations. We would like to extend our thanks to the Paxton family for the professional way in which they have handled the sale and transition of the business to Teds.”
Peasley confirmed that the business will continue to trade as Paxtons into the foreseeable future.