Clive Peeters Struggles In NSW Cuts Announced

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Clive Peeters has been forced to reengineer their New South Wales operation with a dramatic cut back in costs and the closure of their NSW warehouse operations due to what the Company has described as “depressed trading conditions”.

Clive Peeters has been forced to reengineer their New South Wales operation with a dramatic cut back in costs and the closure of their NSW warehouse operations due to what the Company has described as “depressed trading conditions”.

Clive Peeters CEO Greg Smith said “We decided to re-engineer our operating costs in Sydney over H2 2009, with significant reductions in operating costs, advertising, staffing costs and the closure of the central NSW warehouse. The combination of the above will have the potential to bring the State to break even for the first time in FY 2010. We are encouraged by this trend, and remain confident that when our New South Wales store rollout resumes, the State will become a profit contributor to the Group”.

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