Retail fit out co tanks | IR News

Retail fit out co tanks

Posted Date: 21/02/2013

By Inside Retail

Retail fitout company, One Group Retail, has been placed in liquidation, with Deloitte Partners Sal Algeri and Tim Norman appointed as liquidators.

The liquidation effects One Group Retail Holdings and its three subsidiaries, One Group Retail Manufacturing, One Group Retail Maintenance, and One Group Retail Project Management and Installation.

Managing the store fit out process from end to end, One Group employed around 170 staff at offices in Victoria, NSW, Queensland and Western Australia.

Its website lists clients as diverse and large as Nike, Portmans, Kmart, Peter Alexander, JB HiFi, Cue, Dotti, and Specsavers.

It specialised in creating retail fit uts including signage, rebranding and the roll out of point of sale systems.

Joint liquidator, Sal Algeri said Deloitte will be making an assessment to understand what work in progress can be completed and gauging the potential interest for a trade sale.

"Given the current trading position we expect to be downsizing the workforce immediately.

Our investigations into the affairs of One Group are just beginning, and we expect to know more over the coming few days,” said Algeri.

“The Australian retail market has been extremely challenging for some time. Many domestic players are responding to the increased competition from overseas and margin pressures by investing in online strategies.

All of these factors have resulted in less new store openings and upgrades which has negatively impacted One Group.”

One Group was created when Australasian Retail Projects, JRB, Focus Shopfitters and FINN merged in 2010.

Expressions of interest for the business may be sent to onegroup@deloitte.com.au, while customer and creditor enquiries should be directed to Pauline Spitaleri, Deloitte Restructuring Services, (03) 9671 7033 or pspitaleri@deloitte.com.au.

Keywords: Retail Fit out

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