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25 May 2010

POSTED BY DJackson IN General | May 25th, 2010 | 4 responses

Fears more will follow Clive Peeters collapse

Fears more will follow Clive Peeters collapse

25 May 2010

The collapse of electrical retailing giant Clive Peeters has added to concerns that the global financial crisis could be having a “second wind”.

While the latest slump in global share markets and the Australian dollar has analysts panicking about the possibility of a severe market correction, the retail industry is now calling 2009 an “aberration”, with the Clive Peeters’ failure labelled as “unsurprising”.

Gary Black, executive director of the National Retail Association, said the current sentiment within the retail sector was grim.

“It (the collapse of Clive Peeters) does reflect quite a serious headwind that most retailers are battling against now,” he said.

“It’s not uncommon for retailers to tell me now that their sales have slumped by as much as 25 per cent.

Read the full story here: http://www.brisbanetimes.com.au/business/fears-more-will-follow-clive-peeters-collapse-20100522-w345.html

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