Region. Stores to close

The collapsed REDGroup – parent of Borders and Angus and Robertson book stores, both of which have outlets across Western Sydney – has debts of $118 million. It has stock worth $119.9 million and $6.4 million in cash. However staff are owed $7.8 million. Ferrier Hodgson's, Steve Sherman, said the first round of store closures would be decided upon early this week.