Source: The Daily Telegraph
THE owner of clothing brands including Just Jeans and Portmans will close up to 50 stores, forcing job losses in a retail sector feeling the pain of our cautious spending.
Premier Retail, which also owns Jay Jays, Peter Alexander, Jacqui E, Dotti and Smiggle, has announced the closures after a review of the company by new chief executive Mark McInnes, the former David Jones boss.
The company has said jobs will go as part of the closures, which it calls part of a “realignment” which is expected to cost around $14 million to $15 million.
It was not immediately revealed how many jobs would go or which stores would close, but the company described those on the chopping block as “loss-making”.
Mr McInnes has said the usual school holiday sales bump failed to happen this month, contributing to what he has called a
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