Collapsed department store Harris Scarfe and its remaining employees across Australia have a potential future on the horizon.
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Receivers for Harris Scarfe have advised the retailer's team they have granted exclusivity to the Spotlight Group to buy the business.
Receiver Vaughan Strawbridge said it came after a vigorous due diligence process that saw four parties shortlisted and given access to the key trading records of the business.
The chain closed at Dubbo and another 20 locations last month after being placed into receivership in December.
Another 44 stores remain in the portfolio to be offered for sale.
The receiver reports the Spotlight Group is a family-owned, longstanding and highly experienced Australasian retailer with a large property portfolio ideally suited to enabling future growth for Harris Scarfe employees and all stakeholders.
"There is still a lot of work we need to do together to finalise the transaction and we will be working with the Spotlight Group and the Harris Scarfe leadership team to make this happen," Mr Strawbridge said.
"We are hopeful all of the 44 stores will be retained under the sale but ultimately, this will be dependent on how the transaction progresses over the next couple of weeks."
It is expected a settlement of a sale could happen as early as the middle of April.
