Discount Superstores Group: Difference between revisions
Company Name Change to Retail Adventures |
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| slogan = Where everyone gets a bargain |
| slogan = Where everyone gets a bargain |
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| foundation = 2005 |
| foundation = 2005 |
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| location_city = [[ |
| location_city = [[North Ryde, New South Wales]] |
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| location_country = <br>{{AUS}} |
| location_country = <br>{{AUS}} |
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| key_people = David Young |
| key_people = David Young, CEO |
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| industry = [[Retail]] |
| industry = [[Retail]] |
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| num_employees = 8000 |
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| operating_income = $ |
| operating_income = $1 billion [[AUD]] (2010) |
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| owner = [[Jan Cameron]] |
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| homepage = [http://www.retailadventures.com.au/ www.retailadventures.com.au] |
| homepage = [http://www.retailadventures.com.au/ www.retailadventures.com.au] |
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| locations = |
| locations = 330 stores |
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| subsid = Chickenfeed, [[Go-Lo]], Sams Warehouse, Crazy Clarks |
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}} |
}} |
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'''Retail Adventures''' is the largest discount variety retailer in Australia. |
The '''Retail Adventures''' group is the largest discount variety retailer in Australia following the acquisition of Australian Discount Retail in 2009. |
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Australian Discount Retail was formed in 2005 after the sale of the discount division of [[Miller's Retail]] (now known as [[Specialty Fashion Group]]) and the sale of The Warehouse Australia by [[The Warehouse Group]] New Zealand to private equity firms Catalyst and CHAMP. Catalyst and CHAMP reportedly paid [[AUD|$]]200 million AUD which was funded by NAB Capital, ANZ and BOS International. The combined entity was Australia’s leading discount variety retailer with revenues nearing $1 billion and a store presence in every state and territory in the country.<ref>{{cite web|url= http://www.champmbo.com/html/portfolio_adr.html|publisher=CHAMP Private Equity |title=Australian Discount Retail Portfolio}}</ref> |
Australian Discount Retail was formed in 2005 after the sale of the discount division of [[Miller's Retail]] (now known as [[Specialty Fashion Group]]) and the sale of The Warehouse Australia by [[The Warehouse Group]] New Zealand to private equity firms Catalyst and CHAMP. Catalyst and CHAMP reportedly paid [[AUD|$]]200 million AUD which was funded by NAB Capital, ANZ and BOS International. The combined entity was Australia’s leading discount variety retailer with revenues nearing $1 billion and a store presence in every state and territory in the country.<ref>{{cite web|url= http://www.champmbo.com/html/portfolio_adr.html|publisher=CHAMP Private Equity |title=Australian Discount Retail Portfolio}}</ref> |
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Revision as of 11:21, 9 February 2011
| Company type | Privately held company |
|---|---|
| Industry | Retail |
| Founded | 2005 |
| Headquarters | , |
Number of locations | 330 stores |
Key people | David Young, CEO |
| $1 billion AUD (2010) | |
| Owner | Jan Cameron |
Number of employees | 8000 |
| Subsidiaries | Chickenfeed, Go-Lo, Sams Warehouse, Crazy Clarks |
| Website | www.retailadventures.com.au |
The Retail Adventures group is the largest discount variety retailer in Australia following the acquisition of Australian Discount Retail in 2009.
Australian Discount Retail was formed in 2005 after the sale of the discount division of Miller's Retail (now known as Specialty Fashion Group) and the sale of The Warehouse Australia by The Warehouse Group New Zealand to private equity firms Catalyst and CHAMP. Catalyst and CHAMP reportedly paid $200 million AUD which was funded by NAB Capital, ANZ and BOS International. The combined entity was Australia’s leading discount variety retailer with revenues nearing $1 billion and a store presence in every state and territory in the country.[1]
The company traded under the household names Go-Lo /Crazy Clark's (275 stores), Chickenfeed (39 stores), and Sam's Warehouse (99 stores). In 2008 the company rebranded all The Warehouse stores as Sam's Warehouse as a condition of sale from The Warehouse New Zealand.
Retail Adventures has more than ten buyers ranging merchandise for over 25 buying categories. This merchandise is sourced from suppliers based locally and overseas.
The main competitors of Australian Discount Retail include Kmart, Homeart and The Reject Shop.
On 20th January 2009 the Board of Australian Discount Retail has placed the company in voluntary administration. Staff have been assured their entitlements are safe, but the future of their employment would not be known for months as a buyer was sought for the business.[2] The size and scale of ADR makes this the biggest retail collapse Australian business in over five years.[3]
On 23rd March 2009 it was announced that the company had been sold to Retail Adventures Pty Ltd, a company owned by Australian millionaire Jan Cameron, the former owner of Kathmandu, for an undisclosed sum. The sale guarantees the 2,500 permanent and 7,500 casual jobs under ADR.[4]
See also
References
- ^ "Australian Discount Retail Portfolio". CHAMP Private Equity.
- ^ "Bargain retailer into receivership". The Australian. 21 January 2009. Retrieved 2009-01-25.
- ^ "Discount retail chains collapse with debts of $201 million". Smartcompany.com.au. 21 January 2009. Retrieved 2009-01-25.
- ^ "Australian Discount Retail Group sold". Sydney Morning Herald. 23 March 2009. Retrieved 2009-03-29.