Clive Peeters takeover officially completed

Electricals retailer Harvey Norman’s takeover of Clive Peeters was officially completed on July 8.

It purchased 32 of the 38 Clive Peeters and Rick Hart stores and confirmed that staff from the New South Wales stores earmarked for closure would be interviewed for potential employment elsewhere in its network. It is expected that the Clive Peeters and Rick Hart branding will also be retained.

Phil Carter of PPB, receivers of Clive Peeters, said: “Under the stewardship of Harvey Norman we are confident that the businesses will have a prosperous future.”