Masters to close

[Evanism]

News this morning...Woolworths to pull plug on Masters after Lowe's exercises put option

It's game over. An orderly sale... Which means the work is already done in the background and the plug will be pulled any day.

Edit - ASX notice - http://www.asx.com.au/asxpdf/2016011...cyy3vzjc3l.pdf

[david.elliott]

Shame that, they kinda gave it a good shot. Early days when the staff were mostly retired or moved on tradies was the best time.
Most concerningly is the fact that Bunnings, here in the west at least, now pretty much have the game all to themselves. I have noticed an improvement in service at Bunnings since the arrival of a serious competitor. I hope that is maintained...I really try NOT to go to Bunnings whenever I can, but it's about all we have left...

[crowie]

Master's have just had an official opening of a very large store which has taken a couple of years to organize & build on a main road in Penrith...
The store is well stocked, good staff and very clean.....
I hope the brand stays and gives the big green sheds a proper run for there money!!!

[cava]

Sad perhaps, but really not surprised.

[Christos]

That's pretty heavy when you look at it. I kind of hope that it continues in some form.

[Kuffy]

home depot or walmart or similar may buy it. Probably a good buy given the motivated seller

[Tritonitis]

I have $100 worth of Woolies vouchers. Not sure if to wait for bargains or use them before they're no good.

[Chesand]

I have $100 worth of Woolies vouchers. Not sure if to wait for bargains or use them before they're no good.

I heard on the radio this morning that Woolies would honour Masters vouchers in any of their stores - hope it is correct.

[Yanis]

Hard to compete with the green giant I'm afraid. I think they suffered the same problem as Dick Smith though, too little butter over too much bread. I think Woolworths has a habit of generalising too much. The adage of find your core business and stick to it is a lesson they are yet to learn.

It really is a pity.

John

[justonething]

The best scenario I could hope for is that someone from overseas buy the business and turn it into a franchise, like Good Guys or Auto Barn where individual owners will give his/her own business the customer focus that bunnings generally lack.
Given that Bunnings have just announced their investment into the UK market. Masters would provide a platform for the UK crowd get into Bunnings backyard.

[rtyuiop]

Bit of a shame, they occasionally had really good online specials. Hopefully someone buys it and can turn it into effective competition for the big green shed.

Seemed like something was horribly wrong with their management when they announced a while back some changes to account for seasonal differences between Oz and the US, and the different labour market here - just astonishing they didn't realise that before they opened!

[Yanis]

If the sell up watch out for great deals on Bessey clamps.

john

[rtyuiop]

And titebond!

[I_wanna_Shed]

If the sell up watch out for great deals on Bessey clamps.

john

EXACTLY what I'm hoping for!

[Tonyz]

Woolies just announced they will buy Lowes share of Masters chain and then they will try to sell it off, otherwise close it down over time.

Slobface Palmer has just put Queensland Nickel into administration. while I feel no pity for him I trust that it can be salvaged for the Townsville workers.