Two Kangaroo Island businesses in Kingscote continue to undergo a transition as the business owners move toward retirement and new opportunities, according to a recent report from ‘The Islander’.
While a new owner will soon take over Linden Lea Mitre 10, unfortunately the Betta Home Living store will close if new owners cannot be found by the end of October.
The business remains for sale as it has been for some months and there was still hope someone will buy it. Betta Home Living owner, Lyndon Preston, who also owns and operates Victor Harbor Betta Home Living said outstanding contracts would be honoured and the priority was to look after customers on KI, according to the publication.
The one full-time employee and one part-time employee were receiving assistance to help finalise accounts and there would likely be a sale of remaining stock, he said.
Mayor, Michael Pengilly, said he was hopeful the business would sell to new owners so that the business could remain open.
“It is a really good opportunity for a young couple to buy an established business that has been profitable and is badly needed on the Island,” he said.
Meanwhile, the Bell family was also looking to transition and has sold its Linden Lea Mitre 10 store to a new owner recently.
Philip Bell said the family had spent more than 40 years building the business up, but they were now ready to move on.
The new owner would keep running the business as a Mitre 10 and there were no major staff changes expected, he said in The Islander report.