10-30% off Storewide. Starts Monday. Photo taken from store
As reported in The Age:
Masters fire sale to start Monday
items that rarely went on special like power tools would move the fastest and the company would track items "scientifically, on a day-by-day basis" to decide when prices needed to be dropped as the closing date approached.
Isn't masters doing a Dick Smith (closing down completely)
The OP is probably an employee, not a rep advertising.
What more info do you want.?
llama stop spitting at people!
llama are you Jv's brother?
Derp!
How about you read some news?
As the printing of the signs would have preceded the announcement to close they wouldn't have branded the signs.
This is JV levels of dumb
Could have easily googled.
Any idea if this sale will be on masters eBay store as well as they will be part of the 15% off Click & Collect promotion.
No click and collect anymore. You can browse online, but cannot click and collect anymore.
I didn't believe you but then I went to eBay and saw that there are no longer items listed on eBay!!!
http://stores.ebay.com.au/officialmastersstore/_i.html?rt=nc…
Also, all the items on the website now say "In-store Only".
last two click and collect orders I've had to return they had re-boxed returned/broken items and given it to me, massive waste of time trust me this is for the best…
Do you really want to risk it and get dicked?
I got this the other day which goes over the 'Click and Collect' stuff.
Dear Trade Member,
We're getting in touch with you today following the announcement that the Masters Home Improvement business is to be wound up and Masters stores are to >Block-quote be closed by early December.
As a loyal trade customer we wanted you to be among the first to know. While this is an unfortunate outcome, in the weeks between now and the day our stores close there will be plenty of reasons for you to visit Masters as we offer once-in-a-lifetime deals to clear stock.
Unfortunately, we will be unable to continue offering online purchases or Click & Collect. Of course, our website is still available to browse for information and we will keep you up to date with what's on offer via email.
As always, we appreciate your loyalty to Masters Home Improvement and look forward to seeing you in store soon.
The Masters Team
FYI I was also told that trade pricing will no longer be offered
Correct. From Monday no trade or staff cards accepted
Mod 25/8: The original title was 'Closing down / Fire Sale', however Masters have informed us that these offers are part of the regular catalogue,
This is the real closing down sale.
Yep, a misleading title on the other post.
You're absolutely correct. it's misleading because 3 days later they actually announce a fire sale. maybe remove your blinkers
You're absolutely correct.
I know, it said 'Closing down / Fire Sale' and contained normal sale items, if it had have said something like Unconfirmed Closing down / Fire Sale , details to come like the ebay deals do then it might have been a different story.
ima sad
Meesa sad too.
Yousa sad too?
Wesa all sad!
Where's the photo when u click on the thumbnail?
Sorry, the photo has been sold as part of the fire sale
10 to 30% off, reminiscent of the squeeze every dollar out of the situation approach applied when Dick was getting the chop once the administrators stepped in.
Prior to that point there was a real fire sale with much higher random price slashing
True. I believe the recent masters sales were much better than the "closing down" sale that they will have now.
Yep, just the idea of getting a bargain will get may people through the door to start with whether it's an actual bargain or not. It would be nice from my perspective for them to massively reduce everything straight up but makes no business sense, They have got a few months to clear everything out and although some people seem to get upset that the discount's when a store is closing aren't big enough it's their job to get as big of a return as possible on their products.
It will be another 30-50% in another fortnight. Will Bunnings price beat?
No as its a liquidation sale.
Bunnings said its lowest-price guarantee did not apply to liquidation stock and it would not be matching Masters' prices.
Here http://www.smh.com.au/business/retail/masters-fire-sale-to-s…
Masters shouldnt have liquidated and just did a fire sale and kick bunnings in the guts for a few months.
I guess they have no choice though
Bunnings won't even price match competitors when they are on sale, has to be non sale price. No way in hell they will price match this
hmmm try Officeworks lol. na Bunnings won't be that silly
Feel like negging this because I don't want Masters to close :(
Yeah I was a fan too.
"was"? does that mean that you are no longer a fan? :)
Me too, I like Masters
I really like masters. There are 3 bunnings and 1 masters within 15 minutes drive from where I live. Have always gone to masters first if i needed to buy stuff from a hardware store.
+1
I'm going to miss the Friday night deals since it forces Bunnings to compete.
The best deal was the hozelock 25m auto hose for $59. (The 20m one retails for $199)
Masters also participated in the eBay deals and you could use cashrewards for further savings.
Maybe there's an Eneloop brick and mortar store curse? Dicksmith sold eneloops and they went down. Masters did as well….
There's more signs that say all sales are final and no cheques accepted. Peace ✌
Dude sorry you'll be out of a job soon. Hope you've got something else lined up.
Applied at bunnings? ;)
While he may be losing his job under okay circumstances, he's still losing his job. You don't know his responsibilities or if he has children, or what being out of a job means for dude.
I still feel sorry for dude.
@misterpotatomato: Hey guys, thanks but don't feel sorry for me. I only work maybe once a week on weekends. Got a full time job during the week, only do it for extra cash. I feel for those that are full-time and part-time and rely on Masters as their income.
@flash659: see @Putum, why do you have to judge people you don't know for? this guys working 2 jobs to stay ahead of the game.
I have a quick question on this 'all sales are final' point, re warranties. Does this mean that there is effectively NO warranty on products bought from Masters now, if it is a product sold/manufactured exclusively for Masters (i.e. no way to seek a warranty from the manufacturer, because they will cease to 'legally exist' in December)? My particular interest is in the batteries for the EGO range… I would happily buy a spare one at 30% off, but only if it came with the standard 1-year warranty.
https://www.masters.com.au/diy-projects-ideas/support-help/m…
4. Can I still return a product to Masters stores? What will happen after Masters store close? All returns, refunds, recalls and warranties will be handled in the normal manner by your local Masters store right up until closing date. Once Masters has closed, a new service backed by Woolworths will be unveiled to deal with any after sale issues you may have. Please contact your local store team for any further questions.
Could argue its a bit vague I guess but its better than nothing.
Cheers DB, that's exactly the type of info I was after :)
While I suppose it is a bit vaguely worded, the fact that Woolies is specifically mentioned is enough reassurance for me, because they (Woolies) have always been absolutely excellent re returns of any kind, in my experience. Not sure I would 'chance it' on a $3000 kitchen (which would be a little hard to 'return' to a Woolies outlet), but for a $150 battery, I'm reassured enough by your advice to go for it!
Lets see how long this drags on for. The initial period will be % off discounts at marked up to RRP. Be careful of being ripped off just because it says "liquidation" :)
The liquidator has to get the best price for its customer
The liquidator usually gets the best price for themselves and the tax department.
There's no liquidator as the business is owned by woolies who will dictate the sale.
What do you mean? Woolies has already sold the stock to GA (the liquidators) for a guaranteed $500 million
abc is correct.
As part of the Masters wind-up they have appointed GA Australia to underwrite and manage the sale of the inventory. GA have underwritten the inventory for $500million so they will be not wanting to offer any extremely sharp discounts for a while…
@smoke87: I highly doubt the Woolworths board and lawyers are stupid enough to make a false disclosure to their investors…
@smoke87: Last I checked it wasn't Woolworths that floated DSE….
It's all irrelevant anyway to the Masters fire-sale and my original point still stands. If someone has underwritten the sale of the stock, don't expect to get sharp pricing early on in the piece…
You are not familiar then with the concept of write downs to improve the posiion of a company in the current reporting quarter. They wont detail all of this until they release their mid december report, which may not be until January under permissable delay in these corcumstances. No liquidation company provides a $500m underwrite on $700m of stock. The $700m figure is a sham from the point of view of a consumer. We will see 40%+ discounts within 4 weeks and the high end brands will get 20%, unless the distributirs buy them back which is highly likely.
@smoke87:
The article says they are aiming to sell for up to 30% off which would bring $700M down to about $500M.
They also mention that some suppliers don't want their brands heavily discounted and might offer to buy back the stock at a smaller discount.
That's what I found funny today. At Box Hill have never seen it busier with the car park full for once. Brings out all looking for a bargain whereas the true bargains have probably already been had
Theoretically final close date is December which is a VERY long time… we shall see!!
Do they sell store fixtures/shelving and stuff?
Probably not until the final week or two
Apparently not. I went in yesterday to ask about a few things, and apparently even if they dont sell it, they will get rid of it thru their other channels (whatever they may be)
Dick Smith certainly did when they went down… I half expected them to be winkling out the downlights in the joint on the last day, and whacking them on the 'SALE' table…
28 degrees price protection is exempt I think. No buying now and claiming later :/
I feel like these sales aren't good for Ozbargainers, we're too tight so other people will snap things up at 20% off before they drop lower.
I was thinking this too. Their garage shelving and storage have seen regular 30% off sales. Was happy though to get MR16 LED downlights for $1.75 each!
gift cards still being accepted right to the end?
Doubt it. Staff discount cards/trade cards won't be accepted.
What about e gift cards
Woolworths have said from the beginning that they will honour gift cards.
http://www.woolworthslimited.com.au/icms_docs/185819_Woolwor…
Woolies would have to be absolutely mad to not honour them at Masters until the end. Screwing over customers will just create a lot of bad publicity and bad blood with customers which won't exactly help out their other struggling businesses…
Stewy is 'right on the money' here, MASTERS giftcards clearly state that they are usable at various affiliated places, including Woolies. This will not change/they will remain valid, even after MASTERS has closed, methinks.
yes giftcards (which are really just Masters branded Wishcards) are accepted & then afterwards at any other Woolies shop that accepts them.
i used my 7.5% off Dan egift card no worries. love a stacked discount.
My father is finally paying out a bet over Masters' advertising that they are the 'fastest growing hardware store'. That part was a joke.
It's still the fastest growing. It just happens to be negative growth.
I lost faith in their judgement when the Toorak rd store was forever empty, so they offered free bike tire inflation to the nearby bike path. I tried buying hardware using a bike once. Not again.
My local Masters store was finished in March this year and never used. It must have cost Woolworths a fortune to build and pay council rates/interest/depreciation, etc without selling a single product. At least it'll now be used for something.
They physically were the fastest growing, just in mortar not in worth
Masters did reach a billion dollars in sales in the last financial year. That's pretty good growth in 5 years. I think he still wins.
This is the disappointing results. Even post the announcement in January sales growth was still very high and makes you really question the judgement in closing it down
Problem is Woolworths and Lowe's invested $3 billion. If your turnover, let alone profit, never met your investment before shutting down, the business was never independently liquid or even close. They were loss-leading and never made it to the upside or even close to breaking even. I'm happy with the 'going concern' test and the market's negative response to buying the business as a whole :p
It was always going to take time to make it work though. If they had gone in with a 10 year plan, I think they would have had a good chance at succeeding.
I was really surprised the owners of Mitre 10 didn't buy them out.
I would have thought it would be a steal.
llama on 27/08/2016 - 13:58 Comment score below threshold.
