Allegro put Harris Scarfe into voluntary administration on December 11. news, national, harris scarfe, retail, voluntary adminstration Department store chain Harris Scarfe has been placed in voluntary administration and is … The administrators, Deloitte, say there's sufficient assets to pay entitlements to … Sydney-based Allegro Funds placed the companies behind the Harris Scarfe department store chain under voluntary administration last month, nine days after the private equity firm acquired them from Greenlit, the Asia-Pacific subsidiary of South African furniture behemoth Steinhoff International. B. Yilmaz is with the Business Administration Department, Selcuk University, Konya, Turkey (e-mail: byilmaz@selcuk.edu.tr). Harris Scarfe later went into receivership. Dean Blake. Yet another Australian store has fallen through the cracks as department chain Harris Scarfe has been placed into voluntary administration, it was confirmed on Wednesday. The receivers intend to sell the business as a going concern and save the jobs of as many people as possible. Harris Scarfe has been sold to Spotlight Group, with unsecured creditors the least to gain from the transaction. After 170 years in business, the chain store is in receivership, which has come as a massive shock to its some 1,800 workers. Harris Scarfe has been placed in voluntary administration. The women’s fashion brand entered voluntary administration in November 2019 amid the “highly cluttered and increasingly discount-driven” retail market. Harris Scarfe retails bed linen, kitchenware, homewares, electrical appliances and men's and women's clothing and has annual sales of about $380 million. Deloitte partner Vaughan Strawbridge said he was confident there was more than sufficient assets to meet all employees' entitlements. Yet another Australian store has fallen through the cracks as department chain Harris Scarfe has been placed into voluntary administration, it was confirmed on Wednesday. Sydney-based Allegro tipped Harris Scarfe into voluntary administration, owning unsecured creditors such as suppliers and landlords between $146.1 million and $236.4 million. Harris Scarfe retails bed linen, kitchenware, homewares, electrical appliances and men's and women's clothing and has annual sales of about $380 million. Australian retailer Harris Scarfe has gone into voluntary administration. You can register below and make sure you are up to date with everything that's happening in the south-west. "Harris Scarfe is a longstanding retail institution. being able to log in or subscribe. Only time will tell if the Harris Scarfe administration is due to a wider decline or if it was just not a strong business model in this age of eCommerce. Harris Scarfe placed into voluntary administration by new owners Allegro Funds, which bought the retail chain last month. Harris Scarfe sale to Spotlight approved, but some creditors are losing out. It is not the first time Harris Scarfe has run into trouble. Harris Scarfe – one of South Australia’s oldest retail chains – entered voluntary administration today after being put into receivership by a creditor. The receivers intend to sell the business as a going concern and save the jobs of as many people as possible. On 11 December 2019, Harris Scarfe under General Manager Rebecca Peterson, entered voluntary administration, with Deloitte Restructuring Services partners taking over management of the business. Harris Scarfe department store chain placed into voluntary administration Only recently acquired by new owners Harris Scarfe have now appointed Deloitte Restructuring Services as receivers and BDO as voluntary administrators. The administrators, Deloitte, say there's sufficient assets to pay entitlements to staff and say they'll keep the jobs of as many as possible. Retail chain Harris Scarfe has been placed in voluntary administration and is expected to be sold. The company has 66 stores across the nation after starting as a … Quite simply, we are your one and only destination for buying great products for … Deloitte partner Vaughan Strawbridge said he was confident there was more than sufficient assets to meet all employees' entitlements. Australian retailer Harris Scarfe has gone into voluntary administration. The receivers intend to sell the business as a going concern and save the jobs of as many people as possible. Source: Getty Iconic Australian retailer, Harris Scarfe, has been placed into receivership, joining the list of Aussie stores to shut doors as a … You can register below and make sure you are up to date with everything that's happening in the south-west. At the time, Harris Scarfe had 66 stores employing 1800 staff. The private equity group, which specialises in turning around struggling businesses, placed Harris Scarfe into voluntary administration on Wednesday, triggering the appointment of receivers. Iconic department store Harris Scarfe is the latest retailer to fall, announcing it has gone into voluntary administration. The company has 66 stores across Victoria, Tasmania, NSW, Queensland, South Australia, Western Australia and the ACT, after starting as a hardware business in Adelaide in 1849. The move comes less than a month after the company traded to Allegro Funds, a Sydney-based private equity firm known to turn around struggling businesses. The three partners who will handle the deal are Vaughan Strawbridge, Kathryn Evans and Tim Norman. Department store chain Harris Scarfe has been placed into voluntary administration. Sydney. II. "This announcement has come without warning and employees are shocked and will be very concerned as they head into Christmas," SDA national secretary Gerard Dwyer said. The $380 million retail chain, which employs more than 1800 staff, is best known in South Australia, Victoria and Tasmania but has 66 stores nationwide. Founded in 1849, Harris Scarfe currently operates 66 retail stores nationally in two formats including "Harris Scarfe" department stores and "Harris Scarfe Home" homewares and kitchenware stores. Operating nationally, but best known in Victoria, South Australia and Tasmania, Harris Scarfe retails bed linen, kitchenware, homewares, electrical appliances, and apparel across 66 stores. Have you signed up to The Standard's daily newsletter and breaking news emails? Harris Scarfe placed into voluntary administration by new owners Allegro Funds, which bought the retail chain last month SA’s oldest retail chain Harris Scarfe has gone into voluntary administration, a month after it was bought by new owners. The retailing business was sold and Harris Scarfe traces its origins back to a single store opened in Adelaide in 1849. The company behind department store Harris Scarfe has been placed into receivership, on the same day that voluntary administrators were appointed. The Warrnambool store is located at the Homemaker Centre on Raglan Parade. The private equity group, which specialises in turning around struggling businesses, placed Harris Scarfe into voluntary administration on Wednesday, triggering the appointment of receivers. 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