As predicted.

"Woolworths has surrendered its attempt to enter the home improvement and hardware business by today announcing it will offload its failing Masters chain."

http://www.abc.net.au/news/2016-01-18/woolworths-to-exit-masters-hardware/7094858

inevitable

I doubt they'll find many workers a new position in Woolworths stores.

Looks like more redundancies coming.

Not a good way to start the year.

greggerypeccary wrote on Jan 18^th, 2016 at 9:55am:

As predicted. "Woolworths has surrendered its attempt to enter the home improvement and hardware business by today announcing it will offload its failing Masters chain." http://www.abc.net.au/news/2016-01-18/woolworths-to-exit-masters-hardware/7094858

they are having troubles exiting from masters.

Sprintcyclist wrote on Jan 18^th, 2016 at 10:21am:

greggerypeccary wrote on Jan 18th, 2016 at 9:55am: As predicted. "Woolworths has surrendered its attempt to enter the home improvement and hardware business by today announcing it will offload its failing Masters chain." http://www.abc.net.au/news/2016-01-18/woolworths-to-exit-masters-hardware/7094858 they are having troubles exiting from masters.

If they can't sell the business, they'll close it down.

The workers will become redundant.

Sprintcyclist wrote on Jan 18^th, 2016 at 10:21am:

greggerypeccary wrote on Jan 18th, 2016 at 9:55am: As predicted. "Woolworths has surrendered its attempt to enter the home improvement and hardware business by today announcing it will offload its failing Masters chain." http://www.abc.net.au/news/2016-01-18/woolworths-to-exit-masters-hardware/7094858 they are having troubles exiting from masters.

I dont even know why they took that road...I mean Bunnings have got it down pat... and a lot of that stuff has a low mark up margin.... and a lot is low turn over..

I would think everywhere is doing it a bit tough to be honest... you dont see the crowds like you used too.. and half the registers are never working..

I wonder if bunnings wil buy up some of the stores dirt-cheap.

cods wrote on Jan 18^th, 2016 at 10:47am:

Sprintcyclist wrote on Jan 18th, 2016 at 10:21am: greggerypeccary wrote on Jan 18th, 2016 at 9:55am: As predicted. "Woolworths has surrendered its attempt to enter the home improvement and hardware business by today announcing it will offload its failing Masters chain." http://www.abc.net.au/news/2016-01-18/woolworths-to-exit-masters-hardware/7094858 they are having troubles exiting from masters. I dont even know why they took that road...I mean Bunnings have got it down pat... and a lot of that stuff has a low mark up margin.... and a lot is low turn over.. I would think everywhere is doing it a bit tough to be honest... you dont see the crowds like you used too.. and half the registers are never working..

You think? They have cheap chinese shyte that you can buy elsewhere cheaper.

Go in and price a Lawn Mower at Bunnings ..... they are dear as poison ....

you can buy a self propelled push type lawn mower with a Briggs & Stratton motor online for half the price of their push mowers.

They need to put in some pokies.

cods wrote on Jan 18^th, 2016 at 10:47am:

Sprintcyclist wrote on Jan 18th, 2016 at 10:21am: greggerypeccary wrote on Jan 18th, 2016 at 9:55am: As predicted. "Woolworths has surrendered its attempt to enter the home improvement and hardware business by today announcing it will offload its failing Masters chain." http://www.abc.net.au/news/2016-01-18/woolworths-to-exit-masters-hardware/7094858 they are having troubles exiting from masters. I dont even know why they took that road...I mean Bunnings have got it down pat... and a lot of that stuff has a low mark up margin.... and a lot is low turn over.. I would think everywhere is doing it a bit tough to be honest... you dont see the crowds like you used too.. and half the registers are never working..

Rubbish !! They say they will beat any price except if it's online where the real prices are !!

But still they are handy and that's why you pay more.

mariacostel wrote on Jan 18^th, 2016 at 12:02pm:

I wonder if bunnings wil buy up some of the stores dirt-cheap.

Most of the masters stores are located next door or across the road to bunnings. Obviously a strategy to take away some of the customers from bunnings but it didn't have the effect they expected. Also bunnings have dolled up their stores buy tidying everything up and polishing their rough concrete floors.

cods wrote on Jan 18^th, 2016 at 10:47am:

Sprintcyclist wrote on Jan 18th, 2016 at 10:21am: greggerypeccary wrote on Jan 18th, 2016 at 9:55am: As predicted. "Woolworths has surrendered its attempt to enter the home improvement and hardware business by today announcing it will offload its failing Masters chain." http://www.abc.net.au/news/2016-01-18/woolworths-to-exit-masters-hardware/7094858 they are having troubles exiting from masters. I dont even know why they took that road...I mean Bunnings have got it down pat... and a lot of that stuff has a low mark up margin.... and a lot is low turn over.. I would think everywhere is doing it a bit tough to be honest... you dont see the crowds like you used too.. and half the registers are never working..

Yes, bunnnings run a good shop.
A tough competitor, run by Wesfarmers.
Open up against them, you have your work cut out for you.

I only went into a masters twice, did not like them.
Woolies did not do proper market research there.

Did anyone see the grand sale planned for masters on ACA ?

Looks like another dicksmith sale to get people in the door.

Woolworths basically wasn't willing to take the risk any longer.

They would have become profitable, but it would have taken too much time, and with Woolworths already struggling they decided it was too long a wait.

Kytro wrote on Jan 20^th, 2016 at 10:43am:

Woolworths basically wasn't willing to take the risk any longer. They would have become profitable, but it would have taken too much time, and with Woolworths already struggling they decided it was too long a wait.

what are they going to do with the stores ? Turn them into yuppy apartments for the chinese. How ironical.

Sir lastnail wrote on Jan 20^th, 2016 at 10:48am:

Kytro wrote on Jan 20th, 2016 at 10:43am: Woolworths basically wasn't willing to take the risk any longer. They would have become profitable, but it would have taken too much time, and with Woolworths already struggling they decided it was too long a wait. what are they going to do with the stores ? Turn them into yuppy apartments for the chinese. How ironical.

Sell the business if they can, else liquidate the assets

this might be a good opportunity for Mitre 10 to take a bigger bite out of the Bunnings pie.

John Smith wrote on Jan 20^th, 2016 at 11:47am:

this might be a good opportunity for Mitre 10 to take a bigger bite out of the Bunnings pie.

Do Mitre 10 still exist?    :-/

John Smith wrote on Jan 20^th, 2016 at 11:47am:

this might be a good opportunity for Mitre 10 to take a bigger bite out of the Bunnings pie.

Yes I would rather see that than a total close down, I had hoped the Masters venture would succeed to provide a bit of opposition to Bunnings

greggerypeccary wrote on Jan 20^th, 2016 at 11:49am:

John Smith wrote on Jan 20th, 2016 at 11:47am: this might be a good opportunity for Mitre 10 to take a bigger bite out of the Bunnings pie. Do Mitre 10 still exist?    :-/

yep, now owned by Metcash. Apparently it's doing well, profits are up and it's growing .... buggered if I know where though, you hardly see them any more.

greggerypeccary wrote on Jan 20^th, 2016 at 11:49am:

John Smith wrote on Jan 20th, 2016 at 11:47am: this might be a good opportunity for Mitre 10 to take a bigger bite out of the Bunnings pie. Do Mitre 10 still exist?    :-/

They were advertising on TV the other day but where are they now ?

Sir lastnail wrote on Jan 20^th, 2016 at 12:12pm:

greggerypeccary wrote on Jan 20th, 2016 at 11:49am: John Smith wrote on Jan 20th, 2016 at 11:47am: this might be a good opportunity for Mitre 10 to take a bigger bite out of the Bunnings pie. Do Mitre 10 still exist?    :-/ They were advertising on TV the other day but where are they now ?

I can't remember seeing one for a long time.

Wiki says there are 366 stores!    :o

greggerypeccary wrote on Jan 20^th, 2016 at 1:05pm:

Sir lastnail wrote on Jan 20th, 2016 at 12:12pm: greggerypeccary wrote on Jan 20th, 2016 at 11:49am: John Smith wrote on Jan 20th, 2016 at 11:47am: this might be a good opportunity for Mitre 10 to take a bigger bite out of the Bunnings pie. Do Mitre 10 still exist?    :-/ They were advertising on TV the other day but where are they now ? I can't remember seeing one for a long time. Wiki says there are 366 stores!    :o

probably in the smaller towns, where it's not worth bunnings opening a store, and where Mitre 10 can take advantage of farmers buying in bulk

John Smith wrote on Jan 20^th, 2016 at 1:07pm:

greggerypeccary wrote on Jan 20th, 2016 at 1:05pm: Sir lastnail wrote on Jan 20th, 2016 at 12:12pm: greggerypeccary wrote on Jan 20th, 2016 at 11:49am: John Smith wrote on Jan 20th, 2016 at 11:47am: this might be a good opportunity for Mitre 10 to take a bigger bite out of the Bunnings pie. Do Mitre 10 still exist?    :-/ They were advertising on TV the other day but where are they now ? I can't remember seeing one for a long time. Wiki says there are 366 stores!    :o probably in the smaller towns, where it's not worth bunnings opening a store, and where Mitre 10 can take advantage of farmers buying in bulk

That makes sense.

Come to think of it, I do remember seeing them in country towns here in WA.

And there's one in Huonville, in Tasmania.

Mitre 10 is on the ropes too.

innocentbystander. wrote on Jan 20^th, 2016 at 2:40pm:

Mitre 10 is on the ropes too.

you sure? I found this but it is a couple of years old

http://aubis.com.au/news/building-construction/mitre-10-up-masters-down-bunnings-strong/

Does everyone realize that these hardware stores are highly dependent on the health of the property market and the growth of debt used to finance it ?

If the bubble bursts then bunnings will be lining up behind masters at the liquidators ;)

Sir lastnail wrote on Jan 20^th, 2016 at 3:09pm:

Does everyone realize that these hardware stores are highly dependent on the health of the property market and the growth of debt used to finance it ? If the bubble bursts then bunnings will be lining up behind masters at the liquidators ;)

true .... before the property 'bubble' hardware stores didn't exist.  :D :D :D

John Smith wrote on Jan 20^th, 2016 at 3:11pm:

Sir lastnail wrote on Jan 20th, 2016 at 3:09pm: Does everyone realize that these hardware stores are highly dependent on the health of the property market and the growth of debt used to finance it ? If the bubble bursts then bunnings will be lining up behind masters at the liquidators ;) true .... before the property 'bubble' hardware stores didn't exist.  :D :D :D

They were usually only very small family run business in a shopping strip until they started to fuel a property bubble with lots of corporate welfare and tax concessions as well as cheap credit.

There are not a lot of Masters nearby our area, yet there are 3 times more Bunnings....and it's about easy access within a short drive, that's where Bunnings is winning over Masters.

I did go into Masters on my way somewhere further away from my home, and I really liked the store, the prices were good, and they were a bit more upmarket, with some really interesting stuff.

It would be a shame for them to close down, but perhaps Wesfarmers went in and started off too big initially?
I don't know....but whatever it is, I don't think Bunnings will close down for a while, do some remember here with that red hammer logo, it used to be McEwans?

Sophia wrote on Jan 20^th, 2016 at 4:35pm:

I don't think Bunnings will close down for a while

Bunnings are moving in to the UK.

greggerypeccary wrote on Jan 20^th, 2016 at 4:40pm:

Sophia wrote on Jan 20th, 2016 at 4:35pm: I don't think Bunnings will close down for a while Bunnings are moving in to the UK.

As in? Leaving Australia and going there, or expanding to the UK as well?

Sophia wrote on Jan 20^th, 2016 at 4:43pm:

greggerypeccary wrote on Jan 20th, 2016 at 4:40pm: Sophia wrote on Jan 20th, 2016 at 4:35pm: I don't think Bunnings will close down for a while Bunnings are moving in to the UK. As in? Leaving Australia and going there, or expanding to the UK as well?

Expanding!

What  a pity -
Masters had a better selection of bolts nuts & screws.

On other products their prices were exactly the same to the dollar

- there was no advantage in going to Masters.

Bobby. wrote on Jan 20^th, 2016 at 6:16pm:

What  a pity - Masters had a better selection of bolts nuts & screws. On other products their prices were exactly the same to the dollar - there was no advantage in going to Masters.

I didn't like their selection of bolts nuts and screws ...

John Smith wrote on Jan 20^th, 2016 at 6:59pm:

Bobby. wrote on Jan 20th, 2016 at 6:16pm: What  a pity - Masters had a better selection of bolts nuts & screws. On other products their prices were exactly the same to the dollar - there was no advantage in going to Masters. I didn't like their selection of bolts nuts and screws ...

Maybe you didn't look closely enough?

There are sets of gray metal drawers below the bolts & nuts section!

They have a huge extra range there.

I wonder how many farmers Woolies forced to suicide in order to get this venture up and going, lives lost in vain by the look of it.  :(

innocentbystander. wrote on Jan 20^th, 2016 at 7:13pm:

I wonder how many farmers Woolies forced to suicide in order to get this venture up and going, lives lost in vain by the look of it.  :(

Link?

Proof?

greggerypeccary wrote on Jan 20^th, 2016 at 11:49am:

John Smith wrote on Jan 20th, 2016 at 11:47am: this might be a good opportunity for Mitre 10 to take a bigger bite out of the Bunnings pie. Do Mitre 10 still exist?    :-/

Yes.  My local hardware store is a Mitre 10 and it seems to be doing quite nicely.  There's also a Bunnings nearby too, but I prefer to go to Mitre 10 for most things.  Oh, I forgot - there's a Masters near me too, but I've never got around to checking it out to see what it's like.

John Smith wrote on Jan 20^th, 2016 at 6:59pm:

Bobby. wrote on Jan 20th, 2016 at 6:16pm: What  a pity - Masters had a better selection of bolts nuts & screws. On other products their prices were exactly the same to the dollar - there was no advantage in going to Masters. I didn't like their selection of bolts nuts and screws ...

hard to get those small parts for your wife's vibrator eh smithy ;)

Bobby. wrote on Jan 20^th, 2016 at 7:03pm:

John Smith wrote on Jan 20th, 2016 at 6:59pm: Bobby. wrote on Jan 20th, 2016 at 6:16pm: What  a pity - Masters had a better selection of bolts nuts & screws. On other products their prices were exactly the same to the dollar - there was no advantage in going to Masters. I didn't like their selection of bolts nuts and screws ... Maybe you didn't look closely enough? There are sets of gray metal drawers below the bolts & nuts section! They have a huge extra range there.

Yes masters had a broader range and it was layed out much better than bunnings. However a dedicated fastener supplier is always going to be superior in both range and price.

Sir lastnail wrote on Jan 20^th, 2016 at 8:13pm:

John Smith wrote on Jan 20th, 2016 at 6:59pm: Bobby. wrote on Jan 20th, 2016 at 6:16pm: What  a pity - Masters had a better selection of bolts nuts & screws. On other products their prices were exactly the same to the dollar - there was no advantage in going to Masters. I didn't like their selection of bolts nuts and screws ... hard to get those small parts for your wife's vibrator eh smithy ;)

not at all, I just get them from your wife

Bobby. wrote on Jan 20^th, 2016 at 7:03pm:

John Smith wrote on Jan 20th, 2016 at 6:59pm: Bobby. wrote on Jan 20th, 2016 at 6:16pm: What  a pity - Masters had a better selection of bolts nuts & screws. On other products their prices were exactly the same to the dollar - there was no advantage in going to Masters. I didn't like their selection of bolts nuts and screws ... Maybe you didn't look closely enough? There are sets of gray metal drawers below the bolts & nuts section! They have a huge extra range there.

please .... I said I didn't like them, not that I didn't see them  :D :D :D

Sir lastnail wrote on Jan 20^th, 2016 at 8:48pm:

Bobby. wrote on Jan 20th, 2016 at 7:03pm: John Smith wrote on Jan 20th, 2016 at 6:59pm: Bobby. wrote on Jan 20th, 2016 at 6:16pm: What  a pity - Masters had a better selection of bolts nuts & screws. On other products their prices were exactly the same to the dollar - there was no advantage in going to Masters. I didn't like their selection of bolts nuts and screws ... Maybe you didn't look closely enough? There are sets of gray metal drawers below the bolts & nuts section! They have a huge extra range there. Yes masters had a broader range and it was layed out much better than bunnings. However a dedicated fastener supplier is always going to be superior in both range and price.

Masters had a huge range of fasteners but -

they only sold 2 screws in a packet with the correct nuts & washers for about $4.
That's right - 2 lousy screws!

What a ripoff.

Bobby. wrote on Jan 20^th, 2016 at 8:54pm:

Masters had a huge range of fasteners but - they only sold 2 screws in a packet with the correct nuts & washers for about $4. That's right - 2 lousy screws!

and there is why I didn't like them. :D :D :D

John Smith wrote on Jan 20^th, 2016 at 8:57pm:

Bobby. wrote on Jan 20th, 2016 at 8:54pm: Masters had a huge range of fasteners but - they only sold 2 screws in a packet with the correct nuts & washers for about $4. That's right - 2 lousy screws! and there is why I didn't like them. :D :D :D

No wonder they are closing - greed brought them undone.