Palmerston furniture store the latest business to fall to economic downturn
A POPULAR Palmerston furniture business has announced it was closing down, a day before the extent of the Territory’s economic woes were revealed
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A POPULAR Palmerston furniture business has announced it planned to close down, a day before the extent of the Territory’s economic woes were revealed.
On Monday Palmerston Furniture & Bedding announced on social media it would soon be closing due to the “massive downturn in the local economy”.
“We would like to thank our wonderful customers and staff for their support,” the post read. “But with the local economy getting worse ever yday, we have decided not to renew the lease on our showroom.”
A day later CommSec’s new report was released, which revealed the.Territory had the worst economy in the nation
In 2019 many notable Territory businesses shut down due to the poor economy, including Patio WorldPatio World, Go Sushi Go Sushi Betta Home Livingand All About LoungesAll About Lounges.
Palmerston Furniture & Bedding declined to comment due to the heartache of the situation.
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