Up to 200 line up for WOW sales

Crowds waiting outside WOW in Maroochydore for day one of the chain's closing down sales.
Crowds waiting outside WOW in Maroochydore for day one of the chain's closing down sales. Patrick Williams

UPDATE: UP to 200 people were waiting for the doors to open at WOW Maroochydore this morning for day one of the chain's closing down sale.

Crowds moved calmly and quietly inside once the store opened at 9am, but most were quick to leave empty handed.

"There's no good sale in there," one man said.

"You can get anything in there cheaper online."

Many complained of most items being discounted for only 10% or even 5%.

'It doesn't feel like a closing down sale at all. You can go to Big W and get it for the same price," one woman said.

Read more in tomorrow's Sunshine Coast Daily.

 

ORIGINAL STORY

UP TO 580 jobs will be lost when receivers of WOW Sight and Sound close all of its 15 stores, including the one in Maroochydore.

Receivers Ferrier Hodgson made the announcement in a statement this morning.

A closing down sale across the chain will begin tomorrow.

The audio and visual superstore chain went into administration late last month, owing unsecured creditors about $25 million.

Ferrier Hodgson will be partnering with global realisation specialists Hilco for the closing down sale.

The sale will run until all stock is sold, which is expected to take a few weeks.

Ferrier Hodgson partner Mr Stewart McCallum confirmed that redundant staff would be paid their salaries in the normal course of business.

"However, other employee entitlements, which are protected under the Federal Government's General Employee Entitlements and Redundancy Scheme (GEERS), will not be paid until the realisation of all the group's business assets is concluded and the ownership claims over stock by suppliers have been resolved," the statement read.

This is expected to take at least three months.

Ferrier Hodgson partners Mr McCallum, Mr James Stewart and Mr Tim Michael were appointed Receivers and Managers over the WOW group on February 27.

Topics:  employee entitlements and redundancy scheme, ferrier hodgson, receivership



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