I can confirm that seek.com.au is getting into the real estate classifieds business, as I have been approached with offers to sell my business to them.

The new owners of Myer are about to start talking to
institutions to flog a convertible notes issue. Newbridge has had Myer
for about two months, and so far the business has been on very heavy
sale (Stocktake Sale and then the History-Making Clearance) for almost
the entire time. The real test will come when the Spring/Summer fashion
season (ie, no sale) starts in the next week.

Peter Fray

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Editor-in-chief of Crikey

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