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NIF imprecipes: Banana Daiquiri
Watch 2:22

NIF imprecipes: Banana Daiquiri

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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

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

{headline}

{headline}

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

{headline}

{headline}

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!

BREAKING: New heartbreak as BIG W Optical confirm that 41 stores will CLOSE

BREAKING: New heartbreak as BIG W Optical confirm that 41 stores will CLOSE

CAUGHT: The sinister secret this Big W employee was hiding from the world

CAUGHT: The sinister secret this Big W employee was hiding from the world

POLICE CALLED: Aussie mum left devastated after brazen Big W self-checkout robbery

POLICE CALLED: Aussie mum left devastated after brazen Big W self-checkout robbery

JUST IN: Police investigate as VIOLENT BRAWL breaks out in BIG W involving a woman with a pram

JUST IN: Police investigate as VIOLENT BRAWL breaks out in BIG W involving a woman with a pram

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BREAKING NEWS: 60 Big W stores tipped to CLOSE. Is your local store affected?

Get the latest details here - by Amy Sinclair
  • 15 Mar 2019

Struggling bargain chain store Big W could be forced to close a third of their 183 stores Australia-wide due to falling profits. 

Macquarie Wealth Management revealed the news in a client note today, stating that they may close 60 stores Australia wide after losing $110 million last financial year and $8 million in the first half of 2019.

BREAKING NEWS: 60 Big W stores tipped to CLOSE. Is your local store affected?

‘Partial closure of the most unprofitable and shorter lease stores is more likely,’ Macquarie said in the note, revealed in The Australian.

‘Given significant closure costs for the portfolio, a more likely scenario is Woolworths to close up to one-third of its stores (60 stores), in our view. This cost could be around $759 million.’

One thing that could stand in the way of the mass store closures, however, is the massive costs the company would incur due to the existing $2.7 billion in lease commitments.

Macquarie went on to say that the final cost would ‘come down to the lease term remaining on these problematic sites and whether the landlord would accept a discount given potential for alternate use, etc.’

It was also revealed that half of Big W’s stores were located in challenging regional areas, which some believe could be hit by store closures if they were to happen.

‘It is unlikely these locations will enable Big W to regain the momentum required for profitability,’ Macquarie said.

‘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.’

A spokeswoman for Woolworths, who own Big W, said a final decision had not been made as yet. 

‘At our half-year results in February we announced a national review of our Big W store and distribution centre network,’ she said.

‘The review is ongoing and no decisions about our network have been made. We will update our team members and the market once the review has been completed.’

Amy Sinclair
Amy Sinclair
Amy Sinclair is the editor of New Idea Food. She is a former weekly magazine editor who loves all things food, cooking and eating - especially the eating! When she's not looking after her three children, you'll find her in the kitchen or busily hiding online shopping purchases from her husband.

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NIF imprecipes: Banana Daiquiri
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{headline}

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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

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

{headline}

{headline}

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

{headline}

{headline}

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!

BREAKING: New heartbreak as BIG W Optical confirm that 41 stores will CLOSE

BREAKING: New heartbreak as BIG W Optical confirm that 41 stores will CLOSE

CAUGHT: The sinister secret this Big W employee was hiding from the world

CAUGHT: The sinister secret this Big W employee was hiding from the world

POLICE CALLED: Aussie mum left devastated after brazen Big W self-checkout robbery

POLICE CALLED: Aussie mum left devastated after brazen Big W self-checkout robbery

JUST IN: Police investigate as VIOLENT BRAWL breaks out in BIG W involving a woman with a pram

JUST IN: Police investigate as VIOLENT BRAWL breaks out in BIG W involving a woman with a pram

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