Victorian supermarket chain enters voluntary administration
Supermarket clearance outlet NQR has called in administrators after 22 years of business in Victoria.
Privately-owned Not Quite Retail opened two decades ago to help retailers sell excess stock, discontinued lines and cancelled supermarket orders. The company, which operates in all food categories commonly seen at the supermarket, currently runs 26 stores – all in Victoria.It is another example of the pressure on smaller food retailers and follows the recent takeover of Macro Wholefoods by Woolworths. Macro, which was the first to take organic to a mainstream model in Australia, had faced difficulties as shopper behaviour altered in the face of a gloomy economic outlook. NQR, however, is one food retailer that could have been expected to cash in on consumers flight to value and home cooking. Alas, it appears not to be.
Ferrier Hodgson Partners Mr John Lindholm and Mr James Stewart have been appointed Voluntary Administrators for the chain.
Mr Lindholm said that he planned to continue trading NQR on a business-as-usual basis whilst marketing the business for sale.
“I will be reviewing the company’s financial position to determine the options and opportunities for the business,” he advised.
