Big W Erina Fair: Woolworths Group announces closure of 30 stores
RUMOURS abound that Big W at Erina Fair will be one of 30 stores to be closed nationwide.
RUMOURS of the closure of Big W Erina are circling following the announcement that the major chain will close 30 stores.
Woolworths Group has announced the closure of around 30 stores over the next three years, along with two distribution centres, following a network review which revealed worrying trends.
The Group did not reveal which stores would close or how many employees would be affected. The closures represents 16 per cent of stores across Australia, with insiders previously speculating the closure of regional stores.
Woolworths Group chief executive officer Brad Banducci said employees would be offered alternate options where possible.
“As foreshadowed at our half year 2019 results, while the recovery in trading for BIG W is encouraging and there remains further opportunity for improvement, the speed of conversion to earnings improvement is taking longer than planned,” he said.
“We understand the impact that the store and distribution centre closures will have on our team and will endeavour to provide affected team members with alternative employment options within the Woolworths Group where possible.
“This decision will lead to a more robust and sustainable store and DC network that better reflects the rapidly changing retail environment. It will accelerate our turnaround plan through a more profitable store network, simplifying current business processes, improving stock flow and lowering inventory.”
The Group said today it expected a loss this financial year of $80 million to $100 million.
When asked specifically about Erina Fair, a Woolworths Group spokesperson said “details of store closure locations will not be released due to ongoing discussions with landlords”.
“In the interim all BIG W stores will continue to trade as normal,” the spokesperson said.
“We want to emphasise this review has never been focused solely on our regional stores but
our entire network.
We will inform our team members, customers and community stakeholders well in advance
of changes to any specific store.”
The Express Advocate has contacted Erina Fair for comment.
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