Masters Liquidation Starting in November?

Lrandom110 on 27/06/2016 - 10:58

Channel News (http://channelnews.com.au/masters-set-to-disrupt-market-with…) is reporting that:

'Masters is planning to dump millions of dollars’ worth of discounted Masters stock into the Australian market over the months of November and December, in a move that could disrupt the market during a peak buying period.

Among that stock is millions of dollars’ worth of appliances, electrical tools and lighting and automation stock.

Masters staff have been told that a “final decision” will be issued to staff in the first week of November, indications are that the Company is planning on liquidating stock and selling off their property portfolio.'

Will be sad if Masters go, but it could be a fun month or two on OzBargain.

General Discussion

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Masters Home Improvement

Comments

  • geek001 on 27/06/2016 - 11:07

    Oh… I can so see myself buying lots of useless junk that may be put up one day… :)

  • frazel on 27/06/2016 - 13:23

    An insider told some unheard of news agency of something.

    Not really trustworthy…

    • random110 on 27/06/2016 - 15:57

      I agree that 'insider information' is always dubious. But Channel News is not an unheard of news agency for those in electronics retail. I doubt they would have released the story if they didn't have some confidence in the source.

  • Cluster on 27/06/2016 - 16:37

    There's a recently completed new Masters store near me, ready to go but completely empty. Interest costs, council fees, etc must be enormous. Its been empty for three months and doesn't look like anyone will be moving in soon. My feeling is Woolworths will liquidate existing stock and shut all the stores down. Bunnings has such an enormous market lead that I don't see anyone competing.

    • random110 on 27/06/2016 - 19:08

      I've noticed that two of the Masters stores near me don't seem to be restocking. Some of the shelves are looking very empty. Perhaps they are going to start consolidating into fewer stores before any liquidation clearance.

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