Future
On 16 March 2007 Momentum Private Equity took a controlling interest in Harris Scarfe in a deal worth $80 million. Harris Scarfe chief executive Robert Atkins said the buyout involved retailer Myer taking a 20 per cent stake in the business while the current Harris Scarfe management team would retain a 15 per cent interest.
Four Harris Scarfe stores also would be converted to Myer outlets: two in Adelaide (Colonnades and Elizabeth) and two in Victoria (Werribee and Forest Hill). That would leave Harris Scarfe with 35 outlets in South Australia, NSW, Victoria, the ACT and Tasmania. The stores in NSW and ACT currently operate under the Allens brand.
Long term Harris Scarfe employee Lionel Penley wrote the history of Harris Scarfe, which the company published in 1991. This book tells the story of the growth of the business, and its close links to the development of South Australia's economy.
In 2011, Harris Scarfe will relocate its flagship Adelaide City store within the Rundle Mall precinct. It also opened new stores in Belconnen (ACT) in March, Ballarat (Victoria) in May and a HS Home at Westfield Tuggerah (NSW) in December.
In 2012, Harris Scarfe is set to return to its old site at Forest Hill Chase, after being replaced by Myer in 2007.
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Famous quotes containing the word future:
“the future is simply nothing at all. Nothing has happened to the present by becoming past except that fresh slices of existence have been added to the total history of the world. The past is thus as real as the present.”
—Charlie Dunbar Broad (1887–1971)
“If Germany, thanks to Hitler and his successors, were to enslave the European nations and destroy most of the treasures of their past, future historians would certainly pronounce that she had civilized Europe.”
—Simone Weil (1909–1943)
“The circuited city of the future will not be the huge hunk of concentrated real estate created by the railway. It will take on a totally new meaning under conditions of very rapid movement. It will be an information megalopolis.”
—Marshall McLuhan (1911–1980)