Clive Peeters name and staff members saved from the chop

By Patrick Avenell

MELBOURNE, VIC & SYDNEY, NSW: Clive Peeters and Rick Hart stores will retain their current names and branding, although they will now be administered by Harvey Norman Holdings, the receivers of Clive Peeters said today.

In addition, staff at 32 Clive Peeters stores throughout Australia will retain their jobs, with Harvey Norman today finalising its purchase of the selected outlets. Staff members from the stores not purchased by Harvey Norman are set to be offered job interviews for employment throughout the wider Harvey Norman network.

In an announcement to the Australian Securities Exchange (ASX) this morning, Clive Peeters’ receivers, PPB, revealed that four stores in New South Wales, at Bella Vista, Auburn, Casula and Belrose, had been excluded from the sale. In addition, the Rick Hart stores in Perth City and Claremont have not been purchased.

“This is an excellent outcome,” said PPB receiver Phil Carter. “We are delighted to have secured the employment of the vast majority of the workforce.”

“This is particularly pleasing as employees have been instrumental in keeping the Clive Peeters and Rick Hart stores trading during this time and they are to be congratulated for their efforts.”

“We are continuing to work with Harvey Norman who (is) interviewing remaining staff over the next week.”

The sale of the Clive Peeters stores to Harvey Norman was first announced last Friday, around two months after the publicly listed company was placed into receivership.

Carter concluded by expressing confidence that under new stewardship, the purchased Clive Peeters and Rick Hart stores can have a “prosperous future.”

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