NQR chain collapses

AUSTRALIA’S struggling retail sector has notched up its second major collapse of the year, with discount supermarket chain NQR Grocery Clearance Stores placed into voluntary administration.

Australian-owned NQR first failed in 2009 when it had 26 stores across Victoria and was saddled with debts of more than $3 million.

It was restructured and reborn, only to now collapse once more, putting in doubt the future of its 18 stores in Victoria and 351 staff.

Bruno Secatore and Luke Targett of insolvency advisory firm Cor Cordis have been appointed administrators to NQR.