Saturday, June 18, 2011

Book Stores

ANGUS & Robertson has sacked 519 workers and will close 42 stores across the country.
In a statement issued on administrator Ferrier Hodgson’s website last night, the losses were confirmed as negotiations to sell 19 bookstores continue.
The chain, owned by RED-group, will lose 116 full-time staff, 47 part-time staff and 266 casual staff, plus 90 from the REDgroup headquarters and warehouse.
The closure follows the collapse of Borders, which saw job losses totalling 1675, and this week’s announcement that clothing brand Colorado Group had gone into administration.
Despite the further blow to the already struggling retail sector, the statement insisted the 48 franchised stores would continue to trade as normal.
Ferrier Hodgson partner John Melluish, said the sale of a portfolio of the stores would save approximately 200 jobs in addition to those associated with the franchise business and e-commerce.
Mr Melluish said employee entitlements would be paid in full to staff who had lost their jobs.
"Our ability to pay full entitlements is a direct result of the untiring efforts of the Angus & Robertson staff who worked under very difficult circumstances to keep the business going," he said.
"As a result of their efforts, I can confirm that all entitlements will be paid out of the proceeds of the sale of the remaining inventory."
The stores to be closed include 13 in Queensland, 10 in NSW, nine in Victoria, four in WA and three in each of Tasmania and South Australia.
Most of the staff to be made redundant are in Victoria and Queensland.
The 42 stores employed 116 full-time, 47 part-time and 266 casual staff.
Mr Melluish said he was now in talks to sell the remaining 19 non-franchise Angus & Robertson stores.
There are 48 franchisee stores that will continue to trade under the Angus & Robertson name.

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