Fears for Chickenfeed

RETAIL Adventures has refused to comment on speculation it is on the verge of financial collapse.

The Australian newspaper reported yesterday that the company - which owns Chickenfeed, Crazy Clark's, Go-Lo and Sam's Warehouse stores - had asked suppliers to stop all deliveries.

The report said an email advised suppliers that the company was ``working through our payment to suppliers'' and asked them to halt deliveries until they had been paid for merchandise that had already been delivered.

The company is owned by Jan Cameron, the founder of the Kathmandu chain. 

The Examiner contacted Ms Cameron yesterday, but she refused to speak.

Retail Adventures referred media inquiries to Grant Vandenberg.

Mr Vandenberg said the company had nothing to say at this stage on the media report.

Shop, Distributive and Allied Employees Association state secretary Paul Griffin said he was assured earlier in the week by Retail Adventures that trading at existing stores was continuing.

Last week five Chickenfeed stores - Sandy Bay, Mowbray, Kings Meadows, Huonville and Wynyard - were all closed with less than a day's notice.

Mr Griffin said he had been busy trying to secure support for the employees affected at those stores.

There are still 19 Chickenfeed stores operating across the state, and almost 30 more across the country.

Meanwhile, Bluechip Properties Australia Pty Ltd has been placed in receivership.

The company owns a number of Tasmanian hotels including Launceston's Penny Royal. It is unclear what will happen with the properties.

The Examiner contacted receiver KordaMentha for comment, but it was unable to provide any further detail before deadline.

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