Earlier this month we saw an announcement that troubled retail group, RED group, the owner of the Borders and Angus & Robertson bookshops would close the last nine remaining Borders stores in Australia, with the loss of another 315 staff members by the end of July.
Today, we hear that more than 1000 employees of crippled retailer Colorado are to lose their jobs after 140 ‘under performing’ stores are closed, slashing the size of the chain by almost a third.
What do you think?
- What other businesses in Australia have recently shed staff? (see earlier post)
- How much have global economic conditions impacted on retail conditions in Australia?
- Are these retailers victims of the increasing trend towards Internet shopping?