Homeware chains have been experiencing boom times during the Coronavirus epidemic with many people spending their money on making their homes comfortable. People are being forced to spend most of their time at home and with this extra time at home, people have chosen to improve their homes.
On the list of purchases, many are buying sheets and cooking equipment and preparing their home for when guests are able to come over again. It is expected that the strong spend on homewares will continue to surge for many months to come and long into the future.
To capitalise on this explosive growth, The Lew family has jumped at the chance to purchase MyHouse, a homewares company which was once it’s rival. MyHouse is owned by the Jarjoura family and in March the company went into administration with creditors owed nearly $18 million dollars.
Global Retail Brands, owned by the Lew family, snapped up the assets of MyHouse Pty Ltd and with it the stores, intellectual property, online store and stock on hand. MyHouse have 23 physical stores currently trading with 11 that were closed during administration. Global Retail Brands has decided to reopen the 11 stores which are actually unprofitable and save the jobs of the 250 staff members that worked there. They also have intentions to open another 25 new stores around the country.
Other stores that have done will during the pandemic is Adairs. Adairs have strengthen their online offerings for those that have been home bound. Use a Adairs discount code for your purchase to save.
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