| 23.07,19. 09:06 AM |
Big W closures: Locations of stores affected revealed
Woolworths has indicated it plans to shut about 30 underperforming Big W stores
A Big W store in western Sydney has become the first confirmed target for closure as owner Woolworths prepares to whittle down the number of outlets of the struggling discount retailer.
The Big W in Auburn Central shopping centre will close at the end of January 2020, Elanor Retail Property Fund said in an announcement to the ASX on Thursday.
Woolworths said in April that it planned to shut about 30 underperforming Big W stores and two distribution centres over the next three years.
ERF said the lease for the 7,159 square metre department store in Auburn had been due to expire in June 2024.
The closure of the store was "a positive catalyst for the transformation of Auburn Central into a Sydney metropolitan, dual supermarket, neighbourhood shopping centre," the investment and funds management business said.
Woolworths has 183 Big W stores and the division lost $110 million in the last financial year.