WELLINGTON (Dow Jones)–Pacific Retail Group Ltd. (A.NLL), a New Zealand electronics and appliance retailer, said Friday its Chief Executive Peter Halkett has moved permanently to the U.K. to manage Powerhouse, an electrical goods seller that Pacific Retail bought earlier this month.
Halkett’s immediate priorities are to reestablish Powerhouse’s relationships with its suppliers, “settling in” management and staff, and organizing finance, PRG’s Chairman Maurice Kidd said in a statement to the stock exchange.
PRG paid GBP 17.2 million for the specialty appliance retailer which at the time of its Aug. 20 receivership had 232 stores in England and Scotland.
Kidd said Halkett will be appointed to PRG’s board in recognition of his “value and understanding to the whole Group and the importance of the Powerhouse investment to PRG’s business.”
PRG’s Deputy Chairman Phil Newland will continue to play an executive role in the running of the company’s New Zealand operations.
PRG’s New Zealand businesses include lingerie specialist Bendon, computer chain Big Byte, appliance and electronics retailers Bond & Bond and Noel Leeming, and the Living & Giving gift stores.
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