EVANS Head newsagency will reopen today after closing its doors last Friday when the business was placed into liquidation.
The owner of the premises, LJ Hooker Evans Head principal Brian O’Farrell, said the newsagency would reopen and be operated by a Casino couple and former staff of previous owner Kevin Slatter.
Last week Mr Slatter said things were looking great in November 2004. He purchased the newsagency in June that year and had just moved into his new home, bought using the equity in the newsagency. Sales of newspapers, magazines and lottery items were going well.
But slow sales of “off-the-shelf items” were soon revealed, shattering the goodwill the $660,000 business was sold with, Mr Slatter said.
“The business never lived up to the sale of off-the-shelf items – things like stationery, cards, toys and games and haberdashery that have a higher mark-up,” he said.
“What was overstated was the goodwill because of the high mark-up items.”
Mr Slatter admitted buying the house, based on the figures he was given when he bought the newsagency, was a mistake.
“I should have traded for 12 months first and reviewed the situation.”
Mr Slatter said his tax debts grew over a five-year period. The newsagency was placed into liquidation last Friday in the Federal Court due to tax debts of almost $300,000.
Mr Slatter was also ordered by the court to pay personal tax debts of $54,450.37 on December 3 last year.
We’re delivering to our valued readers
NORTHERN Star general manager Philip Clynes said it was always unfortunate when a local business operator closes its doors after serving the community.
“The Northern Star connects its readers with news and information about their region they cannot get anywhere else,” he said.
“It is therefore vital that we ensure continuity of supply to our subscribers and casual buyers of the daily paper. We have stepped in, at our cost, to ensure delivery and certainty of supply.”
“Naturally there has been some isolated disruption as delivery drivers become accustomed to the rounds and we ask those affected to bear with us.” “There has been some interest from other businesses to take over deliveries.
“We will review expressions of interest in due course.
“Our main concern is to our readers, ensuring the least disruption in their reading habits, routines and enjoyment.”
Westpace Bank to decide future in newsagency
WESTPAC Bank is still to decide the future of its in-store service at Evans Head following the closure of Evans Head Newsagency.
A Westpac spokeswoman says customers can still access cash from the Westpac ATM in Evans Head and can make payments through Westpac online, mobile and tablet banking.
“They can also contact us through telephone banking on 132 032,” the spokeswoman said.
“Customers who would like to speak face-to-face about any of their banking needs, including home loans, everyday banking or financial planning can phone Kym Lawler, manager at the Westpac Ballina branch, on 6618 1477 who will be more than willing to help.”