News

Sam's Warehouse to shut up shop on Sunday

FINAL GOODBYE: Receivers KordaMentha Restructuring have confirmed Bundaberg's Sam's Warehouse will officially trade for the last day on Sunday. Photo: Zach Hogg / NewsMail
FINAL GOODBYE: Receivers KordaMentha Restructuring have confirmed Bundaberg's Sam's Warehouse will officially trade for the last day on Sunday. Photo: Zach Hogg / NewsMail Zach Hogg BUN180814SAM2

WHILE the sale signs signalled the impending closure of Bundaberg's Sam's Warehouse, the receivers, KordaMentha Restructuring have now confirmed the store will officially trade for the last day on Sunday.

Nineteen staff - 11 casuals and eight full-time employees - will lose their jobs, but KordaMentha Restructuring has confirmed any entitlements will be paid earlier than initially expected.

KordaMentha Restructuring had hoped to pay entitlements by the end of September, but after community members were quick to snap up bargains and take advantage of huge reductions on sale items, KordaMentha Restructuring are now confident they will be able to pay all employee entitlements - totalling $10 million nationally for more than 2000 employees - by mid-September.

Rahul Goyal is one of the receivers and said the huge response to the sales had been better than expected.

"This is thanks to the wonderful support of the local communities who have supported the 50-per-cent-off sales in the past month," he said.

Mr Goyal urged local communities to keep buying where stores were still open, confirming that it would help speed up payments to staff.

The closure of Sam's Warehouse follows the closure of Bundaberg's Crazy Clark's store, which shut its doors on July 20.

Nationally, Discount Super Group (DSG) had operated 143 Sam's Warehouse and Crazy Clark's stores when it went into receivership, and the final remaining 16 stores will all be closed by Sunday.

There has been no buyer for the group or any sizeable part of the group.

Mr Goyal said KordaMentha Restructuring would continue to sell stock and fittings to help raise cash for employee entitlements

The closures are a blow to the local economy and come as the future of the IGA supermarket, located in the Bundaberg Plaza, also remains in doubt.

But IGA supermarket owner Kevin Cast said at this stage he was still in negotiations and no decisions had been made.

"At the moment, it's still open and still operating," he said.



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