ONGOING CONCERN: The Moore Park IGA is in liquidation, but should remain open.
ONGOING CONCERN: The Moore Park IGA is in liquidation, but should remain open.

Moore Park IGA will stay

THE future of the Bargara IGA supermarket doesn't look bright but the Moore Park IGA is set to remain open.

The two stores were owed by Kevin Cast when they went into liquidation in November last year.

Cornett's IGA have been managing the stores. with Worrells Solvency and Forensic Accountants' Chris Cook as liquidator.

Mr Cook said they kept the stores open in an attempt to find a buyer.

"Unfortunately we've been unable to secure a buyer. It's a situation where it was not possible for us to continue to trade on indefinitely," he said.

The decision to close the Bargara store at the end of the month was revealed yesterday as Mr Cook travelled to Bargara to meet with employees.

"But, the little quirky part is late in the afternoon before I went to Bargara, we received notification from somebody who may be interested in the store."

Mr Cook said if a sale with the interested buyer could be signed off by June 30, the store would remain open.

"I don't know how serious it is, they seem genuine," he said.

"But I don't want to get anyone's hopes up, particularly the staff."

Mr Cook said the future of the Moore Park IGA was "a much more pleasant story".

"The store will continue on," he said.

Mr Cook said "another party" would run the store after June 30 but declined comment on whom.

"It's a complicated structure behind the scenes, I can't go divulging the specifics," he said.

Cornett's IGA CEO Graham Booysen told the NewsMail he believed IGA wholesaler Metcash would take control of the Moore Park store.

"And we'll probably still run it for them for a period of time, until they either sell it or offload it or we buy it.

"But there's not a definite path on it, no."

Mr Booysen said Cornett's had the licence to continue running the store on behalf of Metcash until a decision was made.

"But we're not taking over, we haven't bought it, we haven't signed for it, no, not at all."

As neither of the two stores have been sold, Mr Cook said it looked unlikely the $366,000 owed to unsecured creditors would be recovered.



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