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ALDI - DON'T DROWN IN ONE-OFF DISCOUNTS!
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ALDI - DON'T DROWN IN ONE-OFF DISCOUNTS!

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Breaking: Big W announces shock store closure amid coronavirus pandemic

Breaking: Big W announces shock store closure amid coronavirus pandemic

This Kmart fan’s epic garage makeover is the stuff dreams are made of

This Kmart fan’s epic garage makeover is the stuff dreams are made of

‘Never before seen’: Big W slashes price on popular Dyson in massive sale

‘Never before seen’: Big W slashes price on popular Dyson in massive sale

Eerie images as Big W closes its doors for good

Eerie images as Big W closes its doors for good

{headline}

{headline}

One night only: Big W members only secret 10% off sale!

One night only: Big W members only secret 10% off sale!

Bargain alert: Big W is selling Dyson cordless vacuums for dirt cheap

Bargain alert: Big W is selling Dyson cordless vacuums for dirt cheap

Dan Murphy's, BWS, Woolworths & Big W launch massive 48-hour online only sale

Dan Murphy's, BWS, Woolworths & Big W launch massive 48-hour online only sale

{headline}

{headline}

Big W clearance sale sees up to 95% off including over 600 Bonds items from only $1

Big W clearance sale sees up to 95% off including over 600 Bonds items from only $1

Shocking: Bomb scare at Big W, manager to blame

Shocking: Bomb scare at Big W, manager to blame

BREAKING: Big W announce which stores will close FIRST - locations CONFIRMED

BREAKING: Big W announce which stores will close FIRST - locations CONFIRMED

PHOTOS: Wild scenes as mums queue up at MIDNIGHT for the Big W toy sale

PHOTOS: Wild scenes as mums queue up at MIDNIGHT for the Big W toy sale

Big W UNDER FIRE over new toy sale catalogue - find out why HERE

Big W UNDER FIRE over new toy sale catalogue - find out why HERE

FINALLY! Big W announces their annual TOY MANIA SALE

FINALLY! Big W announces their annual TOY MANIA SALE

BREAKING: Big W announce 1/2 PRICE FLASH SALE - so many brands at 50% off!

BREAKING: Big W announce 1/2 PRICE FLASH SALE - so many brands at 50% off!

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BREAKING: Big W finally CONFIRM mass store closures - get the details here

Read the shocking statement here - by Amy Sinclair
  • 01 Apr 2019

JUST IN: After weeks of speculation, Big W has confirmed that it will close around 30 stores across Australia as well as two distribution centres. 

Woolworths - who own Big W - confirmed the news in a statement this morning, revealing: 

‘Following an extensive review of the business, we have made the difficult decision to close approximately 30 BIG W stores over the next three years. We will also close two distribution centres at the end of their leases. These are not decisions we have taken lightly and we regret the impact this will have on affected team members. 

‘We have made these decisions to create a stronger and more sustainable store and distribution centre network that better reflects the rapidly changing retail environment.  We understand the announcement, without confirmation of specific stores, will create some uncertainty for our teams and the communities in which we operate, particularly in regional areas.’

The supermarket giant will take a $370 million hit in its full-year results as a result of the store closures, which will include $270 million in lease and exit costs.

The news comes as it was confirmed last month that the company had lost $110 million last financial year and $8 million in the first half of 2019. It prompted Macquarie Wealth Management to suggest that closing a third of their stores could be on the cards. 

Macquarie also suggested that regional stores would be most at risk, saying: ‘It is unlikely these locations will enable Big W to regain the momentum required for profitability.

‘In a challenging retail environment, we see a reduction in store count as the most likely outcome from the review. Given the format of Big W stores, we believe it would be difficult to reduce space as Myer is doing and that outright store closure is more likely.’

At present, there are around 30 stores located in rural and regional areas around Australia - leading local papers to question whether the Big Ws situated in their specific areas will be affected. 

Said regional NSW paper the Daily Liberal: ‘Dubbo could soon be without Big W if a review finds the poor performing retail chain would be better off shutting up shop in the city.’

Added NSW’s Central Western Daily paper: ‘Could it be lights out for Big W in Orange?’

However, now Woolworths are claiming that all stores have been included in their review.

‘We want to emphasise this review has never been focused solely on our regional stores but our entire network.  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,’ their statement reads.
‘
The majority of our store network is set to remain open and we’re committed to doing the right thing for our team in impacted stores.
‘
We will inform our team members, customers and community stakeholders well in advance of changes to any specific store.'

Amy Sinclair
Amy Sinclair
Amy Sinclair is a contibutor for New Idea Food.

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ALDI - DON'T DROWN IN ONE-OFF DISCOUNTS!
Watch 0:15

ALDI - DON'T DROWN IN ONE-OFF DISCOUNTS!

{headline}

{headline}

Breaking: Big W announces shock store closure amid coronavirus pandemic

Breaking: Big W announces shock store closure amid coronavirus pandemic

This Kmart fan’s epic garage makeover is the stuff dreams are made of

This Kmart fan’s epic garage makeover is the stuff dreams are made of

‘Never before seen’: Big W slashes price on popular Dyson in massive sale

‘Never before seen’: Big W slashes price on popular Dyson in massive sale

Eerie images as Big W closes its doors for good

Eerie images as Big W closes its doors for good

{headline}

{headline}

One night only: Big W members only secret 10% off sale!

One night only: Big W members only secret 10% off sale!

Bargain alert: Big W is selling Dyson cordless vacuums for dirt cheap

Bargain alert: Big W is selling Dyson cordless vacuums for dirt cheap

Dan Murphy's, BWS, Woolworths & Big W launch massive 48-hour online only sale

Dan Murphy's, BWS, Woolworths & Big W launch massive 48-hour online only sale

{headline}

{headline}

Big W clearance sale sees up to 95% off including over 600 Bonds items from only $1

Big W clearance sale sees up to 95% off including over 600 Bonds items from only $1

Shocking: Bomb scare at Big W, manager to blame

Shocking: Bomb scare at Big W, manager to blame

BREAKING: Big W announce which stores will close FIRST - locations CONFIRMED

BREAKING: Big W announce which stores will close FIRST - locations CONFIRMED

PHOTOS: Wild scenes as mums queue up at MIDNIGHT for the Big W toy sale

PHOTOS: Wild scenes as mums queue up at MIDNIGHT for the Big W toy sale

Big W UNDER FIRE over new toy sale catalogue - find out why HERE

Big W UNDER FIRE over new toy sale catalogue - find out why HERE

FINALLY! Big W announces their annual TOY MANIA SALE

FINALLY! Big W announces their annual TOY MANIA SALE

BREAKING: Big W announce 1/2 PRICE FLASH SALE - so many brands at 50% off!

BREAKING: Big W announce 1/2 PRICE FLASH SALE - so many brands at 50% off!

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