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  • The nation’s biggest retailer for window coverings and blinds has joined the retail trend and has temporarily closed its stores
  • Kresta’s (KRS) 22 Australian stores will be closed temporarily, while 130 staff have been stood down for at least four weeks
  • During this period, full and part-time workers will have access to their annual and long service leave
  • Despite the brick-and-mortar disruption, Kresta says its online stores will continue to operate
  • Kresta is currently suspended on the market, with last trade at 4.8¢ per share

The nation’s biggest retailer of window coverings and blinds has joined the retail trend and has temporarily closed its stores.

Kresta’s (KRS) 22 Australian stores will be closed, while 130 staff have been stood down for at least four weeks. However, the company’s online stores will continue to operate.

During this period, full and part-time workers will have access to their annual and long service leave.

“The health and wellbeing of customers, team members, their families and the broader communities remain the company’s priority,” Kresta told the market

“The company, therefore, fully supportive of the various measures undertaken by the government to prevent the spread of COVID-19 through social isolation and distancing measures,” it added.

Kresta is a leader in manufacturing, wholesaling and retailing window treatments and components for over 40 years.

In February, the company reported $18.3 million loss after tax for the full year (ending December 2018). During this time, it also reported sales of $65.3 million, down on the $75.7 million the previous year.

In 2018, The company closed its Western Australian operations in Malaga, with the majority of manufacturing now taking place in China.

Kresta is currently suspended on the market, with last trade at 4.8¢ per share.

KRS by the numbers
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