Next major Retailer to go bankrupt / close in Aus?

Dear OzBargain
I'm wondering if the community has any views on the next major retailer to go bankrupt or closes operations in Australia.
There has been a lot of coverage about BIG W store closures, toysrus, Roger David, Napolean Perdis etc.
I had a previous thread on here about being a retired Mystery Shopper.
Whilst I was working I did think that Dick Smith could potentially go bankrupt because of Rapid store expansion and a lot of customers inside the many stores that I attended.
My next prediction is JB Hi-Fi for a similar reason I see too many stores that cannibalize sales off each other. Why have two stores in the same suburb etc, Migration to streaming services also in major consoles in and skinny margins on TVs mobile phones etc.
I'm not trying to be a Doomsdayer here but maybe an opportunist as an ozbargainer. I kind of feel that David Jones and my is a very tired business model as well with too much real estate them from positions. Love to hear some thoughts.

Comments

    • +2 votes

      They are huge in Europe. I don't see them going anywhere as I'm sure they've got enough capital to last them years to build up a reputation here.

      •  

        So did Woolworths with Masters & Bunnings with their UK venture too. both had plenty of cash to fund

        Decathlon will need many years to build up any sort of presence here. i just struggle to see them last. France and the rest of the world, i know they do fine

    • +1 vote

      I love decathlon, would be a shame to see it go - but have to agree. Interested to see how they're doing. Feel as though many Aussie's don't know they exist.

    •  

      Their marketing strategy in Australia is hopeless. They're not even trying.

    •  

      That's what I thought about Aldi 15 years ago, I was wrong.

  • +10 votes

    Would like to see Harvey Norman and that prick Gerry Harvey go under will never forgive him for pushing for GST on online purchases…

    But i reckon Myer or David Jones are on the brink if the end up merging they might last a little longer but they are a blood rip off and nothing they sale can be purchased cheaper online/else where.

    Also Cash Converters will prob go under soon

    the government has killed the unsecured personal loan market but essentially allowing people to not pay the money back

    • +2 votes

      It's one thing to suggest a company go bankrupt, but its another to suggest you hope they go bankrupt.

      They provide jobs for people in the retail sector. Them going bankrupt would potential screw hundreds to thousands of people.

      • +1 vote

        I'm not hoping that they go bankrupt. However if a business is not sustainable because of economic factors and positioning then it's down to the overpaid executive team to develop a plan to address it.

      •  

        As opposed to what? Not going bankrupt?

        Given that all those staff are regularly screwing hundreds of thousands of peasants out of their hard earned dollars, we peasants can certainly afford to do without them.

        Anyhow, the retail sector only supplies consumption, consumption might be considered good in economic terms but it won't save anyone from the inevitable chasm. The long-term problem is not just the burgeoning landfills, but GDP that has sagged all the way through the good times, let alone the depths it could begin plummeting to soon

        I hope HN goes away;

        • The legacy of decades of the worst possible advertising has accumulated more than enough negative karma. Then add to that Gerry's casino gambling (was it really spare cash, or was it cash that needed to be declared to the ATO? Or employee super?)

        • Forcing the gov to add 10% to online purchases just because he doesn't get/do eCommerce (HN's online volume is negligable). The only group doing well out of that is HN. Making an enemy out of eBay and Amazon surely wasn't such a good idea, but yes that remains to be seen.

        • +2 votes

          Given that all those staff are regularly screwing hundreds of thousands of peasants out of their hard earned dollars, we peasants can certainly afford to do without them.

          You cannot be serious?

          You think that the casual HN staff has any fault in that?

          • -1 vote

            @DogGunn: Without a doubt.

            They might be influenced by s%&* rolling downhill, but just like FT staff, PT staff make their decision. Those that stay willingly chose to sell themselves to the devil.

            It happens in many businesses, HN is no exception.

            They see the deception, but don't call it out
            They see the rip-offs, and turn the other way
            They end up doing the same, every day
            But here comes another quarter of miserable growth to see them on their wretched way

            • +3 votes

              @resisting the urge: Whatever floats your boat.

              Those that stay willingly chose to sell themselves to the devil.

              As a low skilled worker in a retail job, people take what they can get, and that is no fault of their own.

              •  

                @DogGunn: It seems HN staff have sold their souls. On their day of judgement they’ll be barred from passing through the pearly gates of retail heaven.

              •  

                @DogGunn: Absolute rubbish. Get a job at HN, work hard for a week- maybe a month, after that, you should be moving on to more ethical things further up and outside HN. Use your knowledge, and educate yourself everywhere you go. You owe it to yourself to do better than the average esp if you lack some skills at present.

      • +4 votes

        Though i feel for the honest works workers, however I know so many older Australians ripped off by the sales team at HN that i would have no issue seening it close down.

        I've literally seen and heard sales man and women lie to valuable people - i think the worst is there computer section in which they are telling tech 3-4 times above what they should be…

        One time i was in HN Sydenham and there was an elderly guy was trying to buy a new laptop for his Grandson he went to centercom and got given a fair deal and a good laptop when he showed it to the sales guy at HN to ask if he has something similar the guys spent the next 45min argue why he needs to buy it from HN then attempted to sell him an inferior product for a higher price it was only because the older guy was fairly switched on he didnt pay triple for a junk laptop.

        Sales tactics like that exploit people need to be stamped out

    •  

      DJs is one of the most profitable retailers per square meter last time I heard, they're proper high end. Myer is doomed.

      I don't know how cashies in a weak economy you might see an uptake in lone places, they don't make their money selling goods they make on people who pay back.

  •  

    Walked inside emporium the other day in melbourne and there was a big sign, 'exiting new retailer coming soon' where topshop usually is. Might have closed down or I may have just not looked properly? Also I agree with Myer. When I do want to purchase something online it's very difficult. I can't even purchase something I did want as their inventory is based on store location and not warehouse. Not available to be shipped out of the store too. Yep, sad to see one of the Gloria Jeans (melbourne central) close down too. Helped me a lot with my needed caffeine during my studies and they were the only location so far that I know about that offered a student discount.

    •  

      Topshop closed down a month ago lol and isnt there still a gloria jeans upstairs where nike and hype is?

      •  

        Yeah that's the Gloria Jeans, but walked past it a couple weeks ago and it was under construction and had a sign on it saying a new store was opening up! lol

    • +3 votes

      'exiting new retailer coming soon'

      That just about says it all, that does

  • +3 votes

    Sanity: I don't know how they are still alive.
    They're competing with JB HIFI, but their main competiton is online i.e. itunes/spotify/netflix/torrent

  •  

    Myer with their 40% off
    Sales each week (which seems to be the norm yet stores are quite empty) and lack of customer service or the reject shop.

    •  

      We live in a capitalist society and automation improves every year, so all stores including retail get leaner every year in terms of staff-to-customer ratios as people get replaced with technology. Customer service is consequently majorly lacking in many retail outlets these days, not just Myer.

  • +3 votes

    Waltons, Brashers Music,Big Rooster,Fosseys,Bi-lo,Venture, Tandy, Nock & Kirby, Mark Foys, Franco Cozzo, Try & save, Costingtons.

  • +1 vote

    dymocks books store, they are like the block buster yet to go bust.

  • +3 votes

    Youfoodz - I wonder how they profit after having all the voucher codes applied??

  •  

    Rhodes & Beckett

  •  

    Coles super stores..my tip

  • +1 vote

    I wouldn't look at retail, the businesses in major danger are in the building sector.

  • +1 vote

    Big W, they just had a huge sale and are closing down some stores.

  • +6 votes

    Nice thread. I feel bad for the people that are gonna lose their jobs.

  • +2 votes

    subscribed! Be interesting to revisit this when we have proof of death and see who is amazingly prescient and who is talking crap

    anybody interested in a betting pool?

  •  

    I think some car sale company will go down, also money exchange places, also maybe smaller restaurants.

  • +3 votes

    The Reject Shop. They just downgraded their outlook from small profit to a loss. The CEO is gone but not sure what they can do to turn it around.

  •  

    Rebel Sport in due time. Just need one big online sports retailer to come in and its all over.

  • +1 vote

    Is Harris Scarfe still going ?. That would be my guess.

    • +3 votes

      They already went bankrupt once in the early 2000s, about time they shut for good. I despise the store's tactics of constantly having items on sale at 70% off. No, the initial price was wildly inflated while the 'special' price is standard.

      • +1 vote

        They are so dodgy I have a photo I took on my phone the other day.

        Duck and Feather Quilt with the manufacturer RRP on the product $249.95.

        Underneath the Harris Scarfe ticket RRP $599.95 SAVE $360 SALE PRICE $239.95

        So the sale price is really only $10 bellow the REAL RRP.

  •  

    What about Anaconda,rays outdoor went down pretty badly.

    • +1 vote

      Ray's outdoor is macpac now. Not sure if bought out or rebranding

      • +4 votes

        Super Retail Group (BCF, Rebel, SuperCheap Auto etc) bought Macpac early last year and basically closed up Rays.

        They rebranded some (12 or something?) of them Macpac Adventure Hubs.

  • +1 vote

    You're asking the wrong crowd. This is the internet bargains crowd.
    The free spending, don't care about money, buy whatever's in front of you crowd would have a different opinion.

    Some of the companies mentioned here could get you good returns if you buy them on the cheap now.

  •  

    Very surprised one of the top two answers isn't Target Australia, especially when it competes against the much better performing K-Mart under the same parent company.

  • +8 votes

    Whenever my wife makes me go through the Red Rooster drive through, suddenly the lights turn on, the two employees jump off the bench where they were sleeping or playing with phones and we have to wait 10 minutes for the fat fryer to warm up enough that they can make a side of chips. When we leave they go back to sleep for the rest of the day. Htf are they still in business?

    • +3 votes

      Its actually a laundromat, a money laundromat.

    •  

      I frequent a local RR in Sydney (San Souci) thats been there since the beginning. Early 80s I believe. Cant fault their chicken as I've never had a dry / stale chicken there. I dont think they will ever go bust.

      On a funny note. Across the street must have been the last Sizzlers in Australia. Was there till 2018 untill it shut down. RIP

  •  

    Yellow caps and black and white

  •  

    Stock up on bitcoin, etherium or BNB. You will be alright

  • +2 votes

    It seems nobody is mentioning the main factor here, the Australian Post. I think they have a huge impact on how people still not moving massively to online stores. Clothing and some special items aside, anything else can be purchased online.
    Personally if I hadn't to wait a week because how Australian Post is shit, I would buy my stuff online. I can wait 2-3 days but not a week for a delivery from Sydney to Melbourne.

    If the posting was fast enough I think most of the stores and retailers would go bankrupt.

  • +3 votes

    I'm guessing sanity won't be around much longer?

  • +3 votes

    I would get genuine glee from seeing Harvey Norman go bankrupt and by extension Gerry Harvey, as unlikely as that would be to eventuate. Think they call it schadenfreude.

    • -2 votes

      You would love to see ordinary folks lose their jobs?

      Nice /s

      • +1 vote

        Gerry Harvey is a very very greedy and single serving man.
        The ppl that would be impacted mostly would be the Harvey Norman concession sgtore holders as they are generally independent business trading as Harvey Norman Computers etc. all under the one roof but seperate entities.
        Gerry clips the ticket buy charging a Franchisee system fee and also a company commission on the way through. I think the Good positions from memory such as Harvey Norman Auburn are company owned.

    •  

      I think Harvey would be able to turn a decent profit just from his Wagyu cattle, even if the stores go under

  • +1 vote

    The next major phone company to go bankrupt will be optus. If you read some of the comments in the 1c razer thread they will be shipping 25,000+ phones to people……

  • +1 vote

    RFG and its brands!! feel pity for the many franchisees under its umbrella of brands!

  •  

    Krispy kreme dedicated stores?

  • +5 votes

    GM Holden Ltd will close its Australian operations.

  • +1 vote

    I'd probably say Pizza Hut will be next to go. They drop there prices so low that many franchises are forced to close as they can't afford to pay wages.

    I think that's what happened to many stores. Including the one in my area. Shop still there but its remained closed for well over a year or two . With no sign of it ever reopening.

    •  

      They closed a few more in ACT in the last 12 months. There won't be any in ACT soon. Just checked there are now 2 Pizza Hut in ACT and 14 Dominos in ACT. Plus 2 more Dominos just over the border.

  •  

    Calibre. $200+ RRP for mens shirts made in China.

  • Top