The economy managed to avoid a recession this year, but the retail sector was not as fortunate, with real retail spending declining for three consecutive quarters.
Along the way, some lockdown heroes have been crunched at the first sign of a return to normal crimping their earnings, or at least had a slip of the halo.
Barbeques Galore still sizzling as buyers circle
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Trade and private equity suitors are circling specialty barbecue retailer Barbeques Galore after it was put up for sale by Quadrant Private Equity last month.
Quadrant managing partner Jonathon Pearce confirmed the retailer had received interest from both trade buyers and private equity firms. However, he said Apollo Global Management was not conducting formal due diligence on the chain.
Barbeques Galore CEO Angus McDonald.
As reported in
The Australian Financial Review’s Street Talk on Monday, a senior Apollo Global executive visited two Barbeques Galore stores (and two rival retailers) last weekend before testing positive for COVID-19, ending Sydney’s month-long COVID-free period.