NATIONAL: Embattled wholesaler Austin Group has closed ranks.
The listed company today announced it had commenced implementing the recommendations of business performance consultancy 333. The four-week review included an examination of the company's brand assets and operations.
It follows news a major shareholder in Austin Group, Hawkswood Investments, had been placed into administration last week. Managing director Brendan Santamaria refuted claims the receivership would impact the normal operations of Austin Group.
"The review that has been completed identified areas for immediate action that will contribute significantly to further addressing the company's current level of financial and operational performance with specific emphasis on cost, efficiency and streamlining improvements."
Austin Group brands include Rochford, Purr, Playboy, Crusty Demons, Contempo and Roar.