Radio Rentals parent company, Thorn Group, permanently closed the 62 Radio Rentals stores across the country and selected warehouses due to the downturn in retail amid the coronavirus.
The closures resulted in approximately 300 casual and full-time staff being made redundant at the outlets and head office.
The Radio Rentals online store continues to operate and has been enhanced with a relevant product range to better meet customer needs. New credit policies and collection processes have been introduced, in addition to reduced head office costs.
Thorn CEO, Peter Lirantzis said the decision was made to ensure the group continued to operate and thrive in the future. “I am disappointed that we have been forced to make hard decisions regarding our staff and store network. We intend to re-develop both the Radio Rentals digital business model and Thorn Business Finance once the crisis has passed.”