Wednesday, 7 July 2010

Auburn. Harvey Norman to pay $55m-plus

Harvey Norman Holdings is expected to hand over a cheque for more than $55 million today to settle its acquisition of more than 30 stores in the Clive Peeters retail chain. Most of the money will go to repaying Peeters's only secured creditor, National Australia Bank, which is owed about $38 million.The purchase price includes stores clearance centres and some warehousing facilities of strategic value.


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