8 November 2018
Discounts at the Roger David chain of stores have increased to 60% as D-Day looms for the future of the 76-year-old retail chain.

Craig Shepard of KordaMentha Restructuring said today that next Wednesday (14 November) had been set as the final deadline for bids from possible buyers of the chain.

“There has been some interest since the Voluntary Administration appointment on 18 October, but there is no certainty of a sale,” he said.

“Potential buyers have recognised the strength of the brand and customer loyalty, but it has to make commercial sense. Sales have been phenomenal since the first day of administration and we have fast-tracked all stock from the warehouses to the stores to keep up with demand.”

Mr Shepard said if there were no buyers for the business, an orderly closedown would be arranged over the next month.

The Roger David chain has 57 stores throughout the country and employees nearly 500 full-time, part-time and casual workers.

 


Media Contact:

Michael Smith
Inside Public Relations
0411 055 306 | [email protected]

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KordaMentha Restructuring works with companies in financial distress – to restructure and to stabilise the business or to recover value on behalf of stakeholders.