The difficulties of retailing in the current economic climate
have once again been highlighted with some key businesses going into
receivership in recent weeks.
Following on from the news that bakery chain Pieface was up for
sale after trading difficulties (with Woolworths being a potential buyer), the
high-end grocery chain, Jones & Co, has succumbed to administration and now
we hear that menswear chain, Man To Man, is in difficulty and buyers are being
sought.
Jones & Co has around 20 stores with 4 in Australia and
others in NZ, Qatar, Singapore and United Arab Emirates. Its Australian
operation including food wholesaling has been affected by the receivership.
Man To Man has 82 stores across Australia and turned over $39m in
2014. It reported that it was in difficulty after a failed investment in a
footwear chain and administrators are hopeful of selling the business as a
going concern.