News

Seven to close, will Echuca be rejected?

By Kimberley Price

SEVEN stores in The Reject Shop group are set to close with a loss of up to $2 million expected this year.

But it has not been confirmed whether the Echuca store will be one of them with a media release from the company breaking the bad news.

‘‘The reduced earnings guidance reflects a tough trading environment in the retail sector which has continued to be impacted by low consumer confidence, flat wages, increases in the cost of living and a rapidly falling housing sector ... notwithstanding this, we were unable to achieve acceptable rental outcomes on seven stores up for renewal during the half and these stores will be closed by the end of June,’’ the statement reads.

The Reject Shop media adviser Geoff Fowlstone could not confirm what stores would shut their doors for the last time.

‘‘At the moment there is no list of stores set for closure,’’ he said.

‘‘There has not been a date set for when this announcement will take place.

‘‘Of course, when the announcement is made, the staff and the community will be the first to know.’’

In the same media release, The Reject Shop also announced its chief executive Ross Sudano would leave the business.