Long-time Perth retailer Rick Hart has sold his four-year-old Kitchen Headquarters business to Sydney based Winning Group for an undisclosed sum.
The group’s electronic business, Appliances Online, serves customers in Western Australia.
“There is an opportunity to leverage the distribution network we currently have with our own retail business in WA” Mr Crane said.
Mr Hart agreed they were “very similar businesses with a very similar culture”.
Mr Crane believed Kitchen Headquarters was the fastest growing specialist appliance provider in the country.
Thirteen stores were included in the sale, but Clive Peeters ran aground in the years following, and was eventually bought out by Harvey Norman in 2010.
That $55 million sale included dozens of Clive Peeters-controlled stores, and followed stunning revelations of fraud in 2009.
Almost $20 million was extracted from Clive Peeters by a payroll manager who ran fake company ledgers and used the proceeds to invest in a large property portfolio.