The owner of brands such as Robins Kitchen, House and Your Home Depot will expand its network of 180 homewares stores through the acquisition of MyHouse, which entered voluntary administration on 19 March.
Founded and led by Steven Lew (pictured), son of Australian retail doyen Solomon Lew, Global Retail Brands is acquiring MyHouse assets from administration and will immediately take control of the company's online store and 23 currently-trading physical stores.
Melbourne-based Global Retail Brands also expects to reopen a further 11 MyHouse stores this month, meaning it will be able to offer full time, part-time and casual employment to some 250 people.
The reopenings would take the MyHouse operating store total to 34, out of 38 stores when the company was placed in administration.
The acquisition adds to a suite of brands that also under the group's control including PetHouse, House UK, Baccarat and The Custom Chef.
"We're looking forward to re-opening MyHouse stores today and helping many team members get back to what they do best providing great service to MyHouse customers," says Lew, who is executive chairman at the group.
"MyHouse is a trusted brand, established in 1956 and known for offering great value bed linen, bedding, bath towels and home decor. The brand has a very strong online offering and with continued investment the online channel will represent 50 per cent of MyHouse sales.
"We believe MyHouse has a logical place in the Global Retail Brands portfolio alongside our other homewares brands. We look forward to bringing the business back to life by investing in the brand, the team, the online experience and the store network."
Lew clarifies MyHouse is only trading in NSW at this stage, but there is potential to to add an additional 25 stores nationally this calendar year if the right store locations and rental opportunities arise.
"We will also be looking to review and expand the MyHouse product and category ranges," he says.
"We're very excited to be expanding the Global Retail Brands team with the MyHouse acquisition and we look forward to connecting with loyal MyHouse customers in the coming weeks."
Michael Brereton and Sean Wengel of William Buck Restructuring & Insolvency undertook the voluntary administration process. At the time, Brereton highlighted it had been impacted by an increasingly weak retail environment, market difficulties and subsequent liquidity difficulties.Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.
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