Gerry Harvey to buy 2nds World

After business entered voluntary administration.

Gerry Harvey has announced plans to purchase 2nds World, after the business fell into voluntary administration just over two weeks ago, in an exclusive interview with The Australian.

Harvey will reportedly use the acquisition to rebrand the five stores in Auburn, Caringbah, Castle Hill, Cremorne and Penrith, to Harvey Norman 2nds World. As part of the deal, he will take over the store leases.

Harvey Norman currently has one clearance outlet in Sydney’s Mascot.

2nds World voluntary administrators, de Vries Tayeh shared the following statement with Appliance Retailer: “We confirm negotiations are taking place with a major national retailer regarding the sale of the 2nds World business and assets.”

More to come.

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