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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