Beares is also closing down

The Barberton branch of Beares furniture store, which is a brand trading under the Ellerines banner, is shutting down.

This has transpired barely a month after Barberton Times reported that the local Ellerines branch was bankrupt and was closing its doors.

Ellerines was placed in business rescue as a result of the collapse of its parent company, African Bank Investment Limited (Abil).

According to reports, Abil’s demise followed its poor performance and losses amounting to R3 billion since 2009. In the 2013 financial year, Ellerines reportedly incurred a loss of R1,1 billion.

Although Beares has not officially confirmed the closure, Barberton Times last week witnessed workers packing up at the store in President Street.

The entrance to the shop has subsequently been locked. A noticed at door requests customers who still have monthly instalments to pay, to do so at African Bank, which is a clear indication that Beares is shutting down.

Beares has just recently relocated to President Street from its premises in De Villiers Street in March this year.

In its November 12 issue under the headline, “Local furniture store to close doors”, Barberton Times reported that the Barberton Ellerines furniture store would be closing down at the end of November.

Roshnee Pillay, Ellerine Holdings Ltd group marketing public relations head, said the stores which needed to be shut down, were identified as unprofitable or trading in areas where there were insufficient market demand.

Ellerine Holdings has nearly 900 stores and 8 000 employees. Other brands trading under the Ellerines banner include Wetherleys, Geen & Richards, Furniture City and Dial-a-Bed. However, none of these operate in Barberton.

The company had to close down 388 stores in October and 302 were due for closure this month. All the remaining stores might stop trading by January 2015.