Michael Hill says exit from US jewellery business to cost US$4.5M

Wed, 11 Apr 2018

By Tina Morrison April 12 (BusinessDesk) - Michael Hill International said the exit from its US business is expected to cost US$4.5 million for lease terminations and employee severance costs after it was unable to find a buyer for the jewellery stores. The jewellery chain decided to wind up its US business in January after a decade-long investment failed to build a profitable business and the company said today all nine US stores will close around April 30 and the staff offered redundancy and support. "Efforts to find a purchaser for...

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