Compiled by Patrick Avenell
Retravision Southern is in crisis talks today, with a company statement expected to be released at 5pm this afternoon. Meanwhile, the story has been reported across the metro dailies and on TV. An insider told Current.com.au today that a television news crew is currently parked outside the company's head office.
Here below are a collection of major stories covering the modern history of the three Retravision companies:
Retravision to introduce online selling, new commercial division created (15 November 2011)
Although Retravision Southern believes its brand is “strong, trusted and recognised”, it needs to engage younger consumers more in order to remain competitive, claimed the former CEO Tim Cockayne.
Tim Cockayne resigns from Retravision Southern CEO post (30 November 2011)
Tim Cockayne today resigned as CEO of Retravision Southern, concluding his 3.5 year stint at the helm of the group. His time as CEO included the selling off of the McKnights stores and the completion of an 18-month brand development program with external consultants.
Retravision Southern, Northern & Western merger confirmed (23 December 2011)
After months of speculation and weeks of talks, Retravision has announced that the company’s Southern, Northern and Western branches will be merging to form a national supergroup.
Retravision merger "exciting" for suppliers & consumers: new chairman (11 January 2012)
“This is something that, when I was previously national chairman, we tried to put together a lot of years ago,” said Ian Ray. “And now that we’re achieving this, I think it’s a really exciting stage for our shareholders and for the suppliers. We’re looking forward to cutting out a lot of costs in the business, and achieving better results for the shareholders in the future.”
The newly-merged national Retravision company will be run from Perth, effective immediately, and due to the “removal of process duplications” across the three branches, the company will be forced to make “many” of its existing employees redundant.
Retravision Southern will hold emergency meetings with its members tomorrow to discuss serious cash flow deficiencies that have resulted in suppliers not being paid for stock.
Retravision Southern placed in voluntary administration (21 May 2012)
Retravision Southern, the group buying company representing 55 electrical store members in Victoria, Tasmania and New South Wales, has been placed in voluntary administration.