Retra has announced that it will close on 31 March 2024, after nearly 82 years. Members will be offered the chance to become part of BIRA (the British Independent Retailers Association), which will create a new division dedicated to electrical retailers and repair agents.
This news comes after the board of Retra said last month that it intended to close the trade association. The decision had been made with careful consideration, the board said, and it believes that as part of BIRA it will better serve the needs of its members in the “ever-changing” electrical retail landscape.
A vote took place at Retra’s Extraordinary General Meeting (EGM), which was held yesterday (1 February). At the meeting, 98 per cent of the group’s members voted for the closure.
However, to ensure that its members continue to receive support and benefits even after Retra ceases its operations, in partnership with BIRA, Retra is offering all of its fully paid-up members – as of 31 October 2023 – one year’s free membership of BIRA. This cost will be covered by Retra and the membership will start from April this year.
In addition, Retracare’s insurance offering will continue through the Pacifica Group, and the financial services company, Novuna, will also support any existing and new dealers directly.
BIRA is dedicated to supporting independent retailers; it is a bigger trade association than Retra and it is able to offer additional enhanced services that are not currently offered to Retra members.
Howard Saycell, Retra CEO (left), said that the association understands that this news may come as a surprise to some people, and that the team is available to address any questions or concerns members may have during this transition period…
“Your satisfaction and continued success are of utmost importance to us,” he commented. “Rest assured that our commitment to the industry remains steadfast, even as Retra closes its doors.”
Mr Saycell added: “Thank you for your understanding, support, and dedication to Retra over the years. We believe that with the support of BIRA and the continued efforts of Retracare and Novuna, our industry will thrive despite these changes.”
Back in October, Retra held its annual conference; this most recent edition focused around the theme of a sustainable industry; it was an informative and thought-provoking day with an impressive line-up of guest speakers – all providing retailers and brands in attendance with plenty to think about.
