Business Advice

Forever 21 appears set to farewell Australia … Carnell suggests government business bank … Aussies are pleading for this Aldi product

Emma Koehn /

Royal Commission

Kate Carnell, small business ombudsman. Source: Supplied.

US fashion retailer Forever 21 appears to be exiting the Australian market just three years after setting up three large stores on the east coast.

The company’s flagship Pitt Street site is being dismantled, reports news.com.au, ahead of a Woolworths development on the site.

Reports are that the company’y Australian licensee, the UAE’s Sharaf Group, is considering how to exit the other store sites, but has not as yet put out an official word on the decision.

Could a taxpayer-funded business bank be in the works?

Small Business Ombudsman Kate Carnell has used a submission to a Productivity Commission inquiry into competition in the financial sector to suggest a body could be set up to deliver government-supported loans to businesses.

Fairfax reports Carnell has said reasonable terms are rarely available for small businesses seeking finance that do not have property to mortgage.

The submission suggests a government-backed scheme similar to the Clean Energy Finance Corporation could facilitate lending to SMEs.

Aussies to miss out on Aldi “wine calendar”

Christmas treats are already popping up in retailers across the country, but Australian shoppers are begging Aldi for a festive treat the company says won’t be coming Down Under.

The Daily Mail reports Aldi Australia will not be stocking the ‘Wine Advent Calendar’ advertised in Aldi UK promotions this month. The box set includes 24 mini Aldi wine bottles to be consumed in the lead-up to Christmas.

Shoppers continue to plead with Aldi on Facebook to ship the item into local stores, but it looks unlikely to happen this year.

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Emma Koehn

Emma Koehn is a former senior SmartCompany journalist.

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