THE closure of the Dubbo Everyday Living and Sleep City store will cause the redundancy of five full-time equivalent staff.
On February 26 it was announced that Everyday Living and Sleep City would close within six to eight weeks by voluntary administrators Price-waterhouseCoopers (PwC).
PwC partner and administrator Greg Hall said as many staff as possible would continue to be employed until the wind-down was completed, at which time all staff would have been made redundant.
Mr Hall said PwC had been in touch with the federal department that deals with the General Employee Entitlements and Redundancy Scheme (GEERS) and would assist employees with applications.
“GEERS is a federal government payment scheme to assist em-ployees who have lost their employment due to the liquidation or bankruptcy of their employer and who are owed certain employee entitlements,” he said.
“It covers capped unpaid wages, annual and long service leave, payment in lieu of notice and capped redundancy pay.”
PwC partner Michael Fung announced on February 26 the decision to wind down the business in a principle agreement with Hilco Merchant Australia and conduct liquidation of the remaining stock in the store and distribution centres.
“This arrangement will enable us to maximise the return from the company’s existing stock for the benefit of creditors, including employees,” he said.
“We have chosen this orderly wind down option, rather than an immediate shutdown, in order to provide staff with some additional employment, albeit for only some weeks.”
The Everyday Living and Sleep City stores went to administration under their parent company, Furniture and Bedding Concepts Ltd, on February 13.
About 450 staff work in the 64 Everyday Living and Sleep City stores.