By James Wells
BRISBANE: The Truscotts business that was sold ythis week to Adelaide business couple Christoper and Janine Starrs followed a bidding process by up to a dozen companies, according to BSL receiver, Phil Carter.
Carter told Current.com.au that a number of bidders included several ‘usual suspects’.
“Some were interested in all of the stores, the majority were interested in cherry picking individual stores. From out point of view, it was preferable to encompass everything that was left, not only for administrative convenience, but it was also better for the employees as well,” Carter said.
“Starrs’ offer was for all seven remaining stores and a vast majority of the people, which put him out in front of the pack. Most people put an offer of cents in the dollar for stock and he was prepared to take the whole thing on,” he said.
“I always had an idea that a successful local businessman out there would be interested in Truscotts. It is a very recognizable and fondly regarded brand in South Australia. It is a South Australian institution and everyone I know in Adelaide knows Truscotts," he said.