By James Wells
SYDNEY: Even though the new migration Deed of Company Arrangement has been approved by creditors, Retravision Vic-Tas and Retravision Queensland now face the job of signing up the available Retravision NSW stores on a permanent basis.
Retravision NSW northern group, Steve Carter told Current.com.au that at the creditors meeting over 60 stores were confirmed as already sourcing stock through Retravision Queensland and Retravision Vic-Tas, but this represents approximately half of the retailers in the group before it went into administration and receivership.
“There is conjecture as to how many have left to go elsewhere – we believe there are six that are confirmed, but it could be as high as 20,” Carter said.
On Friday, Carter confirmed that 20 of the 22 members of his northern group have decided to join the Retravision Queensland group. The two stores which have decided not the follow the rest of the group include Port Macquarie – which is rumoured to be joining Harvey Norman and Coffs Harbour – which will be joining the Narta group on Friday 1 December.
The proprietor of Bernys Retravision, Mark Casper, told Current.com.au, on Friday that he expects 85 stores to join the migration proposal, leaving approximately 30 stores without a buying group.