Harvey Norman Shuts down Clive Peters/sponsorship affected?

[tony_montana]

Harvey Norman shuts down Clive Peeters AAP From: AAP August 10, 2011 1:02PM

HARVEY Norman has announced the closure of its Clive Peeters and Rick Hart brands as it posted a 1.7 per cent increase in global sales.
The retailer earned $6.18 billion for the year to June 30, despite the slump in consumer spending.

However, the company has been hit by sharp falls in consumer spending with like-for-like sales - measured on an equal number of stores basis and not including new stores - decreasing by 3.6 per cent. The company said price falls would hit revenue in the coming year.

Harvey Norman also announced it would close its Clive Peeters and Rick Hart brands due to underperformance.

Seven of the stores, in Victoria and Western Australia, will be permanently closed, with the other 16 to remain open as Harvey Norman or Joyce Mayne stores.

full article here  http://www.heraldsun.com.au/business/harvey-norman-annual-sales-rise-slightly/story-fn7j19iv-1226112359341

What does this mean regarding our Clive peters Sponsorship?

[Tiger Tragic]

We have a contract so they will still be obligated to pay up.  My guess is that they will enter negotiations with the club to change the sponsorship to Harvey Norman to at least get something for their money.  We might even make more money out of it.

[one-eyed]

In the latest Harvey Norman radio commerical it says only the Dandenong, Malvern and Thomstown Clive Peeters stores will close. The rest will be turned into Harvey Norman stores.