Express Advocate, 22 Feb 2011
Staff at Borders at Tuggerah and Angus & Robertson at Erina are awaiting a decision on the future of the stores following their parent company, The Red Group, being placed into voluntary administration last week.
Facing huge debts and a threat from the increasing popularity of on-line book sales, the group’s operations are now in the hands of administrators Ferrier Hodgson.
Corporate Communications director Michael Cave said the company was still going through the businesses’ finances and speaking to employees with the first creditors meeting set to be held on Tuesday in Melbourne. Full story
Related:
Borders Singapore trades on after parent's collapse - Inside Retailing