Kawana store closure means loss of 20 jobs
SAM'S Warehouse in Kawana will be closing down with 20 staff set to lose their jobs.
A source close to the discount store told the Daily staff had been advised on Thursday of the planned closure. However, it will take several weeks before the official closing, with shoppers likely to pick up great bargains in the intervening days.
It is understood only the Kawana store will close, with neither Maroochydore nor Noosa to be affected.
"High rent and poor sales" have been blamed as the cause. However, Sam's Warehouse founder Jan Cameron has also been making news headlines about her financial difficulties.
In March, it was revealed a liquidator was seeking to retrieve more than $100 million from Ms Cameron over the collapse of Chickenfeed parent Retail Adventures.
Retail Adventures operated 268 stores countryside under the names Crazy Clarks, Sam's Warehouse, Go Lo and Chickenfeed.
Ms Cameron is also the mastermind behind Kathmandu and was once billed as Australia's fourth-richest woman.
Liquidator Deloitte is understood to be pursuing up to $48.24 million in relation to insolvent trading as well as $32 million in relation to preferential payments.
A further $49.77 million will be sought to be retrieved from a secured loan by Ms Cameron's firm Bicheno Investments to Retail Adventures.
There is a suggestion Retail Adventures traded while insolvent from July, 2011, until it collapsed in October, 2012, with liabilities of $224 million. This is a claim Ms Cameron has denied.
Sam's Warehouse Kawana store changed its name and product offerings to become the My Place store in November, 2009. This venture was one of only two in the country to test the new brand and new format offering generic and brand-name homewares. It only lasted nine months.
The store closed and opened again as Sam's Warehouse in September, 2010.