Retravision Southern sells first McKnights store

By Chris Nicholls

MELBOURNE: Retravision Southern has confirmed it has sold the Moorabbin store of the former McKnights group to an unknown owner, and also said it is in negotiations for all remaining stores.

Retravision Southern chief executive officer, Tim Cockayne, told Current.com.au in an exclusive interview that the franchiser had “signed an agreement on one of them [the five former McKnight’s stores] already”.

While he could not divulge the new owners’ identity at this stage, Cockayne said the new Moorabbin store owner would keep the store as a Retravision branded outlet, in keeping with the general strategy unveiled in January.

Retravision Southern was also “in discussions on all of the [remaining] stores,” he said.

“The negotiations are very promising, and it’s as a result of adjusting the price of those stores in the market,” said Cockayne.

Cockayne said he could reveal more details of the Moorabbin store owner “in another week or so”.

The sale of the Moorabbin store individually suggests the original ideal situation, which was to sell every store as a group lot, will not be realised and the stores sold piecemeal.

Leave a Reply

Your email address will not be published. Required fields are marked *

*