The collapses of Retravision’s Southern and New South Wales buying groups over the last decade have taken an insurmountable toll on the brand name across the Eastern Seaboard, CEO Paul Holt has conceded.
Although the impact on consumers from both collapses was minimal — unlike other retail collapses that have left consumers holding vouchers or lay-buys out of pocket — the Retravision name is now not considered strong enough to continue trading in competition with brands like Harvey Norman or The Good Guys in Victoria, New South Wales or Queensland.
In Western Australia, Retravision remains a strong brand name and is likely to continue trading.
“Given the significant damage to the Retravision brand in Victoria, preceded by the previous damage that occurred with the demise of Retravision NSW, it is likely that the Retravision brand will be replaced in all of the Eastern Seaboard states,” Holt wrote in a letter to members.
Since the collapse of Retravision Southern in May 2012, many members have already jumped ship, aware that a new shingle was the best way to carry forward.
(click on image for larger version)
There were around 115 members of Retravision Southern before the company was placed in administration. By September 2012, they had been split:
47 – Transferred to Retravision Australia
32 – Betta Stores Retail (Betta Home Living)
12 – Bi-Rite
3 – Harvey Norman
2 – Stan Cash
1 – The Good Guys
3 – Withdrew from the electrical category
15 – Closed