420 Retail Adventures jobs to go

2 Nov 2012, 12:19 pm   -   Source: AAP

More than 400 Retail Adventures employees from across the country will be made redundant as a result of the discount retailer going into administration.

More than 400 Retail Adventures employees will lose their jobs after the discount store chain fell into administration.

Retail Adventures, which operates nationally under Crazy Clark's, Sam's Warehouse, Go-Lo and Chickenfeed, went into voluntary administration last week.

The board appointed Deloitte's Vaughan Strawbridge, David Lombe and John Greig as the administrators and the company will be restructured to continue under the Sam's Warehouse and Crazy Clark's brands.

A Deloitte spokesman said 420 staff will lose their jobs as a result of the administration and 32 stores will close.

A further 210 employees were made redundant in the lead up to the administration.

He said of the 32 stores, 10 have already closed since the company went into administration last week and the remaining 22 will close by the end of the month.

The stores marked for closure will be in every state except Western Australia and Tasmania.

The majority of store closures are expected to be in NSW.

Under the licence agreement Retail Adventures owner Jan Cameron and the ANZ Bank are the sole creditors.

The company has said 29 Crazy Clark's, Go-Lo and Chickenfeed stores were closed before the company went into administration and 57 Chickenfeed and Go-Lo stores will be rebranded as Crazy Clark's stores.

Retail Adventures chief executive Penny Moss previously said all staff who lose their jobs will be paid their entitlements with alternate employment offered where possible.

The first creditors meeting will be held on Wednesday, November 7.

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