Aprominent local supermarket is for sale following months of speculation from the local community about its future.
Karts & Krafts, formerly Foodland, in Mount Gambier Central is listed for $550,000 plus stock at valuation by Manan Business Sales.
It was announced in March the store lost its Foodland branding and subsequently rebranded to Karts & Krafts, reverting to the previous name associated with the supermarket.
Karts & Krafts owner Ben Sethia told The SE Voice in March that he welcomed anyone from the community in Mount Gambier buying the store.
“If we are obviously so bad and we have not done the right thing, just come and buy it and run it. I have no problem, I will sell it at a loss as well,” he said.
Speaking to The SE Voice recently, Mr Sethia said he believed following his investments in the store it was valued at over $4m should it be re-established but he ws happy to sell it for a few hundred thousand dollars.
“If someone wants to buy, we are happy to sell,” he said.
“Obviously the investment that has been done by previous owners, the landlord in the store and by ourselves comes to over $4m if we were to re-establish a store like this which is a huge amount but we will sell it very low.
“If someone wants to come and take it over, we will sell it for a few hundred thousand.
“I wish that whoever takes over can have a good run and work well with the community and the community can support them.”
Mr Sethia said he believes his mistake was not having a local owner/operator to run the store.
“We are running it at major losses and we have been putting in money out of pocket,” he said.
“I think it just needs a local operator or someone who has got a bit of footprint in the industry and can manage themselves.
“One of the things is that it needs an owner/operator, it cannot just run under management which I think is our mistake.
“There was a lot of theft happening at the store so I brought stock and then it got stolen so you cannot just continue to operate like that.
“If someone was there as an owner/operator, they have the checks and balances and they’re managing themselves and that cannot happen.”
Mr Sethia said he decided to sell after experiencing a range of issues over time and a lack of customers and sales.
“We have not had a very good run so we just have to sell and move on,” he said.
