Hundreds sacked at Angus & Robertson book store chain

Friday, June 17, 2011

Hundreds sacked at Angus & Robertson book store chain

By Anne Wright
From: Herald Sun
June 16, 2011

Angus & Robertson is preparing to close 42 stores. Picture: Annette Dew Source: The Courier-Mail

Angus & Robertson sacks 519 workers
Book chain prepares to close 42 stores
Closure follows collapse of Borders, Colorado

ANGUS & Robertson has sacked 519 workers as it prepares to close more than 40 stores across the country.

In a statement issued on administrator Ferrier Hodgson’s website last night, the losses were confirmed as negotiations to sell 19 bookstores continue.
The chain, owned by RED-group, will lose 116 full-time staff, 47 part-time staff and 266 casual staff, plus 90 from the REDgroup headquarters and warehouse.
The closure follows the collapse of Borders, which saw job losses totalling 1675, and this week’s announcement that clothing brand Colorado Group had gone into administration.
Despite the further blow to the already struggling retail sector, the statement insisted the 48 franchised stores would continue to trade as normal.
Ferrier Hodgson partner John Melluish, said the sale of a portfolio of the stores would save approximately 200 jobs in addition to those associated with the franchise business and e-commerce.

Mr Melluish said employee entitlements would be paid in full to staff who had lost their jobs.
"Our ability to pay full entitlements is a direct result of the untiring efforts of the Angus & Robertson staff who worked under very difficult circumstances to keep the business going," he said.
"As a result of their efforts, I can confirm that all entitlements will be paid out of the proceeds of the sale of the remaining inventory."

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Friday, June 17, 2011