Australian Politics Forum - Woolworths to exit Masters

Kytro

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Re: Woolworths to exit Masters
Reply #15 - Jan 20^th, 2016 at 11:42am

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

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.

Sell the business if they can, else liquidate the assets

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John Smith Gold Member Offline Australian Politics Posts: 78311 Gender:	Re: Woolworths to exit Masters Reply #16 - 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.
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greggerypeccary Gold Member Offline Australian Politics Posts: 150776 Gender:	Re: Woolworths to exit Masters Reply #17 - Jan 20^th, 2016 at 11:49am 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?
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Redmond Neck Gold Member Offline OzPolitic Posts: 23045 ACT Gender:	Re: Woolworths to exit Masters Reply #18 - Jan 20^th, 2016 at 11:51am 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
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John Smith

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Re: Woolworths to exit Masters
Reply #19 - Jan 20^th, 2016 at 11:51am

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

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? Undecided

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.

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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.

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Sir lastnail Gold Member Offline Australian Politics Posts: 30900 Gender:	Re: Woolworths to exit Masters Reply #20 - Jan 20^th, 2016 at 12:12pm greggerypeccary wrote on Jan 20^th, 2016 at 11:49am: 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? They were advertising on TV the other day but where are they now ?
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greggerypeccary

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Re: Woolworths to exit Masters
Reply #21 - Jan 20^th, 2016 at 1:05pm

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

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

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? Undecided

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! Shocked

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John Smith

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Re: Woolworths to exit Masters
Reply #22 - Jan 20^th, 2016 at 1:07pm

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

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

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

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? Undecided

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! Shocked

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

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I hope that bitch who was running their brothels for them gets raped with a cactus.

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greggerypeccary

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Re: Woolworths to exit Masters
Reply #23 - Jan 20^th, 2016 at 1:12pm

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

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

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

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

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? Undecided

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! Shocked

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.

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innocentbystander. Gold Member Offline Australian Politics Posts: 4723 Gender:	Re: Woolworths to exit Masters Reply #24 - Jan 20^th, 2016 at 2:40pm Mitre 10 is on the ropes too.
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John Smith Gold Member Offline Australian Politics Posts: 78311 Gender:	Re: Woolworths to exit Masters Reply #25 - Jan 20^th, 2016 at 2:42pm 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...
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Sir lastnail Gold Member Offline Australian Politics Posts: 30900 Gender:	Re: Woolworths to exit Masters Reply #26 - 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
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John Smith

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Re: Woolworths to exit Masters
Reply #27 - Jan 20^th, 2016 at 3:11pm

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 Wink

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

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Sir lastnail

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Re: Woolworths to exit Masters
Reply #28 - Jan 20^th, 2016 at 4:15pm

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

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 Wink

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

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.

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"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

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Sophia

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Re: Woolworths to exit Masters
Reply #29 - Jan 20^th, 2016 at 4:35pm

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?

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