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Our local Powerhouse didn’t open on Monday, this morning the signs were coming down and a couple of trucks were loading up stock. Happening anywhere else?
Chris.
Welcome to UKW Andy.
As yet there’s no official comment on the state of Powerhouse (I just checked it) barring my previous comments about the $17M NZ loss. The only other news I can find highlights that Powerhouse is losing money but PRG expect it to break even 2005/2006.
Other than that I can’t find anything… unless someone knows different of course. 😉
K.
Re: Powerhouse
Have made a few enquiries. I’m informed that they have sold on a few non-profitable stores. One or two for example were not performing and there were the opportunities to sell the leases to other traders. In one case the Next Group offered a tidy sum for one particular store.
There were major losses apparently in the 1st year, but this is now changing and I’m advised they are confident regards the future.
Take a look at the link below and go to reports, may give some pointers.
Alex
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