Future of four NT menswear stores in doubt as retailer Ed Harry placed in voluntary administration
THE NT’s jobs and business sector has taken another blow with menswear retailer Ed Harry — which operates four stores in the Territory — placed in voluntary administration
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THE Territory’s jobs and business sector has taken another blow with menswear retailer Ed Harry placed in voluntary administration.
The chain operates four stores in the Northern Territory.
The stores are in Alice Springs, Palmerston, Casuarina and Darwin.
The administrators, KPMG, advise that gift cards will be honoured on a $1 for $1 basis.
This means if you intend to redeem a $100 gift card, you will need to purchase product of $200 in value and contribute $100 of cash.
This applies to all stock including sale items.
Gift cards will not be honoured after one month from the date of the appointment of the administrators.
KPMG said the voluntary administration, which is a statutory process designed to quickly resolve the future direction of a company, aimed to maximise the chances of the company’s survival.
“In the event it is not possible to save the company or its business, the aim is to administer the company’s affairs in a way that will provide a better return for the company’s creditors than if the company were immediately placed into liquidation,” KPMG said on Wednesday.
Acting Chamber of Commerce chief executive Brian O’Gallagher said the news was more cause for concern.
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“The stores are caught up in a national situation, but it’s more Territory workers with their jobs at risk,” he said.
The Ed Harry news comes hot on the heels of a flurry of Darwin businesses closing their doors, some with a hope to reopen and others never to trade again.
C-Max cinema and The Hub closed recently with the loss of around 50 jobs.
Crust Pizza at Parap has closed its doors temporarily.
Happy Hearts takeaway Coolalinga and Galleria shops have closed for good.
Next Tier Esports Gaming Centre also confirmed that the tough economic times had forced it to shut its Winnellie premises.
Facebook is awash with people having “moving interstate” sales.
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