Oroton Saved – one of Oroton’s major shareholders, Will Vicars, has purchased the ailing retailer from administrators.
Conglomerate Scandal Could Impact Australian Businesses – South African conglomerate Steinhoff, has been embroiled in a corporate scandal that resulted in wiping 90% off the company’s share price and could impact on its Australian operations. Steinhoff operate brands like Freedom Furniture, Fantastic Furniture, Harris Scarfe and Snooze. The Australian arm has sought advice from company administration specialists on how it might respond.
One-liners:
1. H&M plan more store closures as they look to e-commerce.
2. Australia Post sets record for parcel deliveries this Christmas.
3. Unilever to offload spread brands, Flora, Pro-activ, as it repositions.
4. Chadstone Shopping Centre to get new $130m luxury hotel.
5. Gold Coast gourmet pizza bar to add wine to delivery list.
6. Fed Square to get first Apple Store in southern hemisphere.
7. Kaufland quits online retailing.
8. Retail Food Group shares continue to plummet.
9. Kraft Heinz to drop caged eggs globally.