MORE than 900 jobs around Perth are at risk following today’s news that Woolworths is cutting ties with its ailing Masters Home Improvement stores.
The supermarket giant will either try to sell the stores or failing that, shut them.
Masters stores in Mandurah, Bayswater, Bibra Lake, Ellenbrook, Joondalup, Forrestdale, Butler, Baldivis and Landsdale all employ more than 100 people each.
In a statement released today, Woolworths Chairman Gordon Cairns said its priority was to do the right thing by shareholders, staff, suppliers and customers.
If the Masters stores do close, Woolworths said it would try to employ people within the wider group.
Last year, public records showed that Masters lost $227.4 million.
Despite these losses, the business opened a highly anticipated store in Mandurah early in 2015.
Masters stores began appearing in Perth in 2012; however they never were never able to compete with Bunnings.
Woolworths first announced its intent to join the home improvement market in 2009.
In June 2015, Woolworths said Masters was faced with a major competitive disadvantage in Perth – as their competitors were able to open earlier and stay open until later.
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The closure of the WA stores will be a major blow to local economies.
In 2015, Woolworths claimed they were injecting around $40 million into the local economy.
The closure of the Masters stores follows Woolworths selling $2 billion in property assets since 2010.
More here:<a href=" https://www.communitynews.com.au/news/Woolworths-in-Greenfields-on-schedule-to-open/7677520
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