On 17 April 2019, Radio Rentals announced plans to exit its retail and online sales operations in New South Wales, South Australia and Queensland with all stores to be closed by the end of June.
There were five gedd!t stores in NSW, 15 Radio Rentals stores in SA and 15 R.T. Edwards stores in QLD with 340 employees impacted.
Rental customers were not affected as the consumer rental business, which finances rental contracts through various retailers, including Radio Rentals, is provided by inRent, owned by a separate entity.
Radio Rentals managing director, Nick Palmer said the decision to close the retail operations was very difficult and emotional, and was only taken after careful consideration and pursuit of all other strategic options including a sale.
“Given the changing and challenging face of retail business these options regrettably were not viable. In the end, we had no alternative. Any further delay would be irresponsible.
“We decided to act before our hand was forced and close our stores in a timely and controlled fashion. This is a planned and managed exit and we will meet all commitments to every employee who leaves us. All suppliers will also be paid under the ordinary terms of trade.
“The company will support and counsel employees who are impacted and help them to find new jobs. To that end, an external employment agency is being engaged to assist. We recommend our employees to new employers.”
The South Australian Radio Rentals brand is not associated in any way with Radio Rentals stores owned and operated by the Thorn Group in states other than South Australia. In South Australia, Thorn Group stores trade as Rentlo Reinvented.