Homeart liquidated

PPB Advisory, the administrators of Homeart, will close all of the stores in the housewares and gifts chain after failing to attract a buyer. While Homeart blamed poor Christmas trading in 2014 as the final straw, administrators found the business had accumulated trading losses of more than $9 million in the past three and a half years. Administrators also found that half of the 115 stores in the chain were trading at a loss and a considerable number of other outlets were barely breaking even. A

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