Family-owned Supanews successfully emerges from RedGroup VA

In a rare "good news story" coming from the collapse of RedGroup Retail, Supanews Retail Pty Ltd, Australia´s leading newsagency retailer and franchisor, is an independent business again. Supanews founder and managing director Adrian Gaskin, has regained 100% ownership of Supanews Retail, following his purchase last month of the outstanding shareholding of the business from the voluntary administrators (VA) of RedGroup Retail.

Supanews was founded by the Gaskin family in 1992. In 2006 Adrian was approached by RedGroup Retail (at the time, ARW Group) to do a joint venture. Adrian retained a minority shareholding in the joint venture company.

Adrian believes that Supanews was unaffected by the VA of RedGroup because of the underlying strength of the core Supanews business, and his team´s commitment to ensuring it was "business as usual".

That philosophy of "business as usual" is set to continue, as Supanews pushes on with its growth target of 3-5 additional stores each year.

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