Just Jeans owner to return $8m to Aussie parent after taking $4.5m wage sub

Just Jeans owner to return $8m to Aussie parent after taking $4.5m wage sub
Victoria Young
Kimbyr Investments, operator of major retail chains including Just Jeans, Smiggle and Portmans, has returned $8 million to its Australian parent after taking $4.6 million in New Zealand government wage subsidies.The parent, Premier Investments, has already come under pressure from Australian Labor MP Andrew Leigh who this week said, “it's time Premier repaid the taxpayer.”Premier told the ASX on Wednesday its first-half earnings were up about 80 percent. It did not respond to BusinessDesk questions.Kiwi subsidiary Kimbyr, which...

More Retail

The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024
Serato and AlphaTheta have abandoned deal
Retail

Serato and AlphaTheta have abandoned deal

The CMA said it has received written assurances from the parties. 

Rebecca Howard 24 Jul 2024
Warehouse share trading complaint filed
Retail

Warehouse share trading complaint filed

The Warehouse had confirmed a buyout proposal had been lodged.

Gregor Thompson 24 Jul 2024
Stephen Tindall supports Warehouse takeover offer
Retail

Stephen Tindall supports Warehouse takeover offer

Bid from Australian private equity firm values shares at between $1.50 and $1.70.