Glue Store permanently closes all stores and online channels after 28 years in business. The closure comes after Accent Group previously announced it would close, convert or dispose of any remaining 16 stores in the chain by the end of FY23. This included $8.4 million in losses at Glue Store (including closure provisions) for the first half of the financial year. The retailer, recently acquired by Accent Group in 2021, remains focused on growth for brands such as Sports Direct, Lacoste and HOKA whilst growing its wider retail portfolio across Australia.
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Frasers moves to buy remaining Accent Group shares in A$390.8M offer
Frasers Group has launched a A$390.8 million offer to acquire the remaining shares of Accent Group, extending its investment in Australia's retail sector. The proposal follows an existing partnership between the companies and comes as retailers navigate mixed consumer spending conditions across Australia and New Zealand.
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