By Patrick Avenell
Retravision Australia CEO Paul Holt has revealed that 45 of the 101 Retravision Southern stores trading on the day that group went into administration have been integrated into the national group. Furthermore, Holt told Current.com.au the destination of the other 56 stores.
"When the administrator was appointed to Southern, there were 101 stores actually trading on that day," Holt said. "As we speak, I can tell you that 14 stores went to BSR (Betta Stores Retail), 13 stores closed, 12 stores went to Bi-Rite, 45 stores have remained in the group and 17 stores are others or undecided."
Holt said that 'others' figure included the stores, such as Brett Crouch's Stawell business and Graham Wykes' Tura Beach and Eden stores, that have joined the Harvey Norman franchise system.
With the new Retravision National group now operational, Holt was able to give a revised figure of the total store count and the estimated buying power of the group.
"A few months ago, I was talking about a Retravision organisation with nearly 300 stores and circa $800 million worth of purchase turnover," Holt said. "I reckon, at best, we’ll have about 190 stores and we may have salvaged around half of that turnover."