Bank Repossession

1000 people are to lose their jobs as outdoors clothing chain Colorado, battered by debt cuts corners. A going-out-of-business sale will empty Colorado's 109 shopfronts across Australia and New Zealand within five weeks, slashing by one-third the size of the chain's parent company, Colorado Group. Receiver Brendan Richards of corporate recovery firm Ferrier Hodgson said the closures would include 100 stores trading under the Colorado banner in Australia and a further nine in New Zealand "The Colorado brand lost its way over the course of the last six or seven years, and the change in the economic environment and the downturn in the retail market has led this to happen." Mr Richards said the closures would eliminate loss-making sites, leaving a portfolio of 281 profitable stores dominated by the Williams and Mathers brands, which would have 135 and 73 stores respectively The move to close Colorado comes less than two weeks after the administrators of...

Happy Easter to all our blog readers! Have a good Holiday !!

Unfortunately the rug  has finally been pulled off from the  carpet factory. Liquidators for Tascot Templeton Carpets in Devonport have given up hope of finding a buyer for the business after getting only one flicker of interest from a potential buyer. The company was placed in liquidation in October, with the loss of 150 jobs. The last 30 approximate workers at the factory will finish up soon next week. The liquidator Cook said "We went through a process of seeing whether we could sell the business as a going concern, unfortunately that did not result in a sale,". http://www.tascot.com.au/ About tascot Tascot Carpets proudly manufacture wool and wool blend, Tasmanian made high quality carpets, at Devonport. Tascot pride themselves on creating the highest quality flooring products that reflect their reputation for design excellence and craftsmanship. Tascot Carpets are well-known both nationally and overseas thanks to their extensive sales distribut...