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Behind the Headlines

Pandemic the “Great Accelerator” of retail change

Retailers are describing the COVID-19 pandemic as the “great accelerator of retail change” as they invest in technology, modify their supply chains, and customise their offerings to comply with restrictions, protect staff and customers, and financially survive the crisis, according to a media report.

Drive-throughs, click-and-collect, and contactless and home deliveries have become essential for businesses in the QSR sector, while adopting a sovereign mindset and sourcing products locally has been identified as important across many sectors. Longer term, increased online retailing may see a significant decrease in bricks-and-mortar businesses.  Read more

 

 

Franchise fraudster’s COVID-19 bail claim denied

The jailed founder of failed whitegoods retail franchise Kleenmaid has been denied bail after applying to be released on the grounds that the correctional centre where he is being held is too dangerous during the coronavirus crisis, according to a media report.

Andrew Eric Young, who claims to have a heart condition, is in prison waiting to appeal his conviction for knowingly operating Kleenmaid while it was insolvent, and for defrauding the Westpac Bank of $13 million prior to the 2009 collapse of the franchise. Young was jailed in February this year after several aborted trials. His brother and another director of Kleenmaid were previously found guilty of the same charges and have already served much of their jail sentences.  Read more