TRADING is continuing at Sam’s Warehouse store in Warrnambool as administrators restructure the parent company, Retail Adventures.
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But staff at the Bayside City Plaza outlet face an uncertain future since the company’s board of directors last week appointed DSG Holdings as administrators to oversee a major restructure.
The 238 Sam’s Warehouse and Crazy Clark’s discount stores are now operating under licence from the administrators.
A company statement last week said the stores would continue, but Go-Lo and Chickenfeed outlets had either been closed or would soon be closed.
“The restructure is necessary to preserve value for the creditors and make sure the business is financially viable in the future,” Retail Adventures chief executive Penny Moss said.
