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Kleins, a budget jewellery and accessories retail chain, will close its Australian operations over the next few weeks after attempts to find a buyer failed. The business will launch a closing-down sale this weekend. All Kleins' 35 company-owned stores and 135 franchised stores in Australia will close, and up to 100 employees will be made redundant. Kleins owes NAB around $15 million. Unsecured creditors will receive nothing and employees will have to rely on a federal government scheme (known as GEERS) to recover their entitlements.
