Harvey Norman's secret $62 million start-up

"Harvey Norman has sunk almost $62 million into a secret start-up in the past two years, a retail joint venture that hasn't earned the listed operation a cent so far. In addition to the "commercial advances" to the mystery venture, investors have asked why the accounts for last financial year included a $11.56 million impairment against the start-up. The retail empire's executive chairman Gerry Harvey said the so called KEH partnership was led by the retailer's former chief information officer Kaine Escott along with former franchisee Phillip Rohan." Read more

Catie Low Sydney Morning Herald 13 Nov 2016

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