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.
Next major Retailer to go bankrupt / close in Aus?
Last edited 15/06/2019 - 16:59
Comments
Myer.
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.
How much longer can Supercheap Auto/Repco/Autobarn keep it going?
SuperCheap has a steady flow of customers, Autobarn has one or two when I visit, but Repco is always empty. I would however put Sprint auto parts at the top of the death list. Their stores look like they haven't changed since the 1980s. It's like a time capsule. When I go in there the item I want is always out of stock, so off the SCA next door.
Repco supply many mechanic workshops directly. instant delivery services and huge margins. They have no worry!
Donut time it went away and came back lol
Myer is on borrowed time. Maybe not next, but it's coming.
Reject shop actually has tons of customers where I live and unique products you can't get in the big supermarkets. Would be sad to see it shutdown. I feel the store layouts and some dated product lines are the big issue. They should be able to become profitable with better management.
I don't think JB hifi, possibly Harvey Norman
sounds sick when people are desperate to know who is going to bankrupt or close next, there are many falimies who work there for their lively hood, feel pity people are acting contributing to this useless forum.
The artamon/ st lenords JB Hi-Fi store will go under. Always twice as much staff than customers there. That whole complex will go under me thinks.
Your lucky. I always go to JB and can never find staff to help when I need them. Also don't know why that store even exists. With 2 stores 3.5km away in Chatswood.
Myer parramatta and their poor customer service. People at the check out don't greet you anymore. They just scanned your articles and tell you how much. Worst than self check out machine who at least will thanks you for shopping there.
They have too much floor space. They could afford to lose a floor and perhaps give the bottom floor to Aldi or something.
Myers is only good for their centrally stack staircase/escalator which gets you to all levels quickly.
The hope is you see something good while you go to and from your car.
But not even now that its closed.
Myer
Harris Scarfe
EB Games, House
Add Jeanswest…
colettehayman.com.au…
You were right 🙂
I was just adding it to the list.
Seems to be getting longer…
Ishka (Voluntary Admin)
That's a suprise wow
Told my daughter about that yesterday, and she was disappointed that she won't be able to use her $10 birthday gift voucher each year.
Should tell her it's freeloaders like her who put the company into administration :D
She told me that she just learnt it from other freeloaders on this website called ozbargain…
It sounds like you're teaching her well. :)
Kogan
Rivers
Virgin Airlines
HondaProbably time to exchange my Myer Gift cards for actual goods, they didn't look very healthy even before COVID-19 and the impending lock-down of all non-essential stores in NSW and VIC
Gotta say, when this thread was first made 9 months ago I feel like it was much more challenging to make picks!
Tigerlily - Admin.
Troubled swimwear brand Tigerlily has become Australian retail's first victim of the coronavirus pandemic, with the company blaming it for a drop in sales after appointing administrators on Monday.
KordaMentha administrator Scott Langdon has been appointed to the business, which operates across 30 retail locations – along with an online store – and employs around 200 people.target
Michael Hill Jewellery
You might as well ring in all the jewellers… Prouds Goldmark Angus Coote Alexanders…. whos in the mood for overpriced crappy low end stuff at high prices now.
The higher end places like Gregorys and Naders etc are in the same boat.
Noni B, Rivers, Katies owner shuts 1379 stores, stands down 7000 workers
Looks like major retailers temporary shutdowns and staff stand downs would be common place soon.
Wesfarmers Close Kmart Stores Harvey Norman Tipped To Follow
https://www.channelnews.com.au/breaking-news-wesfarmers-clos…See to be only NZ at this time…
Flight Centre to Stand Down 3800 workers in Australia.
More temporary store closures & staff stand down:
- Solomon Lew's Premier Investments (Smiggle, Peter Alexander, Jay Jays, Just Jeans and Portmans)
- Lovisa
- Accent Group (Athlete's Foot, Skechers, Timberlands and Platypus)
- Retail Apparel Group (Tarocash, YD, Connor, etc)
- General Pants
- Factory X (Gorman, Dangerfield, Princess Highway and Jack London)
Lots of people out of work.
Sad, even longer lines at Centrelink filled with stylish people providing free fashion advice about garments you can't afford from shops that are closed indefinitely.
Kathmandu
SketchersBoth multinationals (to a degree) so they'll be around… however saying that they might end up like Bose. There's not much reason for something like say a "Sony store" so you can very well see all Skechers stores go out but the brand will still be sold in other channels.
See Bose Stores.
Rip Curl
Myer.
Witchery
Country Road
Which is the same parent company as Witchery. You can add Mimco, Trenery and Politix to that
The nation’s second biggest department store David Jones has chosen to close its stable of small-format fashion stores –
Country Road, Mimco, Witchery, Trenery and Politix – that will see 5000 staff stood down, sending the total jobs lost in the retail, hospitality and entertainment sectors this month in the wake of the coronavirus pandemic to more than 100,000.
https://www.theaustralian.com.au/nation/coronavirus-australi…
Forty Winks
Myer and DJs
Uniqlo
I think that's an unfair inclusion in here as they're actually doing pretty well (PR mishaps aside) and only closing temporarily to protect the health of customers and staff. You might as well list every single shop that's closed in here like Harry Hartog, The Body Shop, Sephora, that ramen shop I like in Melbourne if you want to play that card :/
Myer on the other hand are in genuine trouble.
Chill out. I never said permanently.
If you re-read the OP's Topic (not mine)
"Next major Retailer to go bankrupt / close in Aus?" then what Uniqlo is doing qualifies as "closing"
albeit temporarily. (I hope).I understand where you're coming from and that's it's technically correct but I think it's not in the spirit of the thread.
well that's an amusing semantics thing. Technically in that case we can list every major retailer that does not operate 24/7/365. Because at the end of business trading what they do is also referred to as 'closing' albeit temporarily.
Aussie Disposals goes into voluntary administration https://www.abc.net.au/news/2020-04-15/aussie-disposals-volu…
Federal government
Certainly Morally Bankrupt
Target and Target Country
SMH 22/5
Wesfarmers will shut up to 75 Target stores and convert a remaining 92 to Kmarts in a massive restructure.
I guess that makes sense. Each mall has a massive Target and even bigger Kmart with similar products across both. Didn't even know they were subsidiaries of the same parent company.
A remnant of Coles-Myer…
Now Wesfarmers.I am an ex Wesfarmers employee and we were thinking that it was us.. Blackwoods. watch this space
I'm surprised my thread is still alive lol was going to post this.
Here's another one for the list:
PAS GroupSeafolly
Somebody rescue the Cheese Bread Recipe…
Dr Chris Brown gave it last night, that was his first job.
It's just butter on bread with Kraft Parmesan cheese.
Toast buttered side in frying pan until brown.
CarAdvice
CarAdvice is as much a retailer as OzBargain is one (i.e. it isn't), they didn't bankrupt and their exit was due to Nine's rebranding decision rather than having financial issues.
Fascinating that Nine decided to throw away a $60m acquisition with 5x the traffic (according to SimilarWeb) in favour of Drive.com.au.
Sorry
Nice call ! I have David Jones on borrow time .
Next tip mate ?