AUSTRALIA: Harris Scarfe Axes Stores To Tempt Buyers
Harris Scarfe, the bankrupt department store group of 35 outlets, is to close nine of its underperforming stores in an effort to tempt potential buyers back to the bargaining table, the Sydney Morning Herald reported. The closures will hit more than a quarter of its stores and will see 470 jobs lost. The job cuts are already under way, said receiver Ferrier Hodgson, with 50 jobs axed yesterday at the company's head office.
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