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Clive Peeters receivers hunt for a buyer

Clive Peeters receivers hunt for a buyer

Newly appointed receivers assure customer deposits and gift vouchers will be honoured

Newly-appointed receivers to ailing ASX-listed retailer, Clive Peeters, have affirmed the business will continue to operate as usual while a buyer is sought.

PPB has been appointed as receivers on the bidding of one of the largest Clive Peeters creditors, NAB. The news comes just a day after administrators were appointed to the retail chain.

PPB partner, Phil Carter, said early indications were positive for the sale of the business.

“We are encouraged by the initial level of enquiry from potential purchases and we will assess these enquiries as part of the formal sale process that we will conduct,” he said in a statement.

PPB reaffirmed that Clive Peeters would continue to trade as normal as a formal sales process is commenced.

“The circumstances surrounding Clive Peeters have created some inevitable short-term disruption, and we understand that customers are concerned about a number of issues around deposits, warranties and gift certificates,” Carter said.

However, despite those concerns, it appears deposits and gift vouchers will continue to be honoured.

Carter said the receivers were continuing to stabilise the business and have held productive discussions with employees and suppliers.

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