Australian retail conglomerate, Premier Investments, has announced that it will explore the possibility of demerging one or more of its brands into standalone businesses. This decision comes as part of a strategic review, which resulted in the resignation of Chief Executive, Richard Murray.
As an ASX-listed company, Premier Investments recognizes the substantial growth potential of its businesses and wants to explore the opportunities available to them. The focus of the review will be on its Peter Alexander sleepwear chain, Smiggle stationery stores, and apparel brands.
In a statement, Premier Investments said, “The review will consider a range of options and will include a review of Premier’s corporate, operating and capital structure, including dividend policies and a separation of the group into two or more distinct entities by way of demerger.”
Following his resignation, Richard Murray will be replaced as CEO on an interim basis by Chief Financial Officer John Bryce with immediate effect. Chairman Solomon Lew expressed acceptance and understanding of Murray’s decision to step down.
As Premier Investments embarks on this strategic review, the future of its brands is set to take a new and potentially exciting direction.