By Annette Shailer
Thirteen NSW National Retail Liquor Group (NRLG) operated bottleshops trading under the Liquor Legends banner were put into voluntary administration this week.
Liquor Legends managing director, John Carmody, said it was extremely disappointing to see the NRLG stores close but the development would not affect the Liquor Legends business.
“It is sad to see the 13 NRLG stores placed in voluntary administration. It in no way affects Liquor Legends as we will ensure all our planned activity continues,” Carmody told TheShout.
“According to the administrator, the stores will be sold and a number of those that were under contract will re-open under the Liquor Legends banner again.”
The closures were likely forced by the economic downturn and mounting competition from retail giants Coles and Woolworths, which have increased their combined market share from 32 per cent to 52 per cent in the past four years.
The NRLG group reportedly owes more than $1 million to suppliers, including Liquor Marketing Group (LMG), Lion Nathan, Fosters and Coca-Cola Amatil, The Sydney Morning Herald reported.
There are more than 320 Liquor Legends stores around Australia, including 70 in NSW, all of which will continue to operate normally.
Twelve of the 13 closed stores are in Sydney and one is in Yass.