Retailer Jan Cameron says her homeware chain Dogs Breakfast is to close within six months, with most of its remaining 12 stores in this country to be converted into Chickenfeed bargain stores.
At least two Dogs Breakfast stores would also be converted into nood - an acronym for new objectsof desire - outlets, the first reopening in Christchurch today, The Press reported.
Cameron, who sold the Kathmandu outdoor clothing and equipment chain for a reported $275 million four years ago, said Dogs Breakfast had been profitable but was not performing as well as her other companies.
Chickenfeed has about 60 outlets in Australia, and yesterday Cameron said the first stores in New Zealand were expected to open in the first quarter of 2011.
Despite Cameron's comments, nood chief executive Heidi Barlow said Dogs Breakfast was not "completely dead in the water" and stores would only be closed on a case by case basis.
Dogs Breakfast replaced the Arbuckles chain which Cameron bought from Postie Plus in 2008. Nood opened a flagship store in Newmarket this week, and is opening another in Tauranga this month.
Barlow said that while nood had been established three years ago, it had purposely kept a low profile as it refined its philosophy, built its team and streamlined operations.
Economic conditions during much of that time were also a factor.
