Kathmandu founder Jan Cameron is under fire again over embattled discount retail chain, Retail Adventures.
According to media reports, Cameron is in the process of closing 50 Retail Adventures stores, as she prepares to sell the business she bought back from administrators just last year.
As previously reported on ragtrader.com.au, Cameron bought back Retail Adventures in February 2013, three months after it was placed in administration.
The purchase was made by DSG Holdings, the company owned by Cameron, for approximately $58.9 million.
Closing down sales have reportedly commenced at Sam’s Warehouse and Crazy Clark’s outlets across the country, with the Retail Adventures store closures to ensue this month.
The news follows the recent collapse of New Zealand-based fashion company Positie Plus, which Cameron is financially tied to.
Cameron is Postie Plus’s largest shareholder, with a 19 per cent stake held through a nominee company.
Retail Adventures traditionally incorporated four brands nationally – Crazy Clark’s, Sam’s Warehouse, Go-Lo and Chickenfeed.