Jeweller Michael Hill International (ASX:MHJ) will close all Emma & Roe stores and the brand’s online presence to focus on the core Michael Hill business.
The company had initially intended to close 24 and retain six Emma & Roe stores as part of a project to reposition the brand towards demi-fine jewellery.
The total one-off cash costs of exiting the six remaining Emma & Roe stores for lease termination and employee severance costs is currently estimated to be $3.1 million.
The company recently announced a new Australian retail management structure, with effect from the beginning of July that includes Kevin Stock and Tishara Mina as joint Retail General Managers of Australia.
Shares in Michael Hill International (ASX:MHJ) closed 1.58 per cent higher to 96c yesterday.