By Paul Hayes
SYDNEY, NSW: The first dominoes have begun to fall in the collapse of Clive Peeters, with receivers PPB announcing this morning that six of the failed retailer’s stores are set to close their doors – at the cost of 75 jobs.
The Clive Peeters stores in Townsville and Ipswich (QLD), Mildura and Warrnambool (VIC), and Bunbury and Canning Vale (WA) will close for the final time on Tuesday 15 June.
“The receivers, with the assistance of key management, conducted a review of individual store performance and identified these stores as unsustainable,” said PPB’s Phil Carter.
“It is disappointing that these closures will result in job losses up to 75 out of a total of 1200 staff, but we have minimised the impact of this by redeploying employees into other stores as far as possible.”
Carter said that PPB is now taking steps to get Clive Peeters ready for sale and has also confirmed supply arrangements with more than 20 major suppliers, including Panasonic and Electrolux, two of the retailer’s largest suppliers.
“We have experienced strong interest in the sale process and have requested submissions of non-binding offers by next Friday, 18 June.
“We then propose to deal with shortlisted parties only.”