'We've seen a lot of market changes in Australia over the last decade, with global fashion retailers entering the market base and Aldi almost 20 years ago,' he told 9news. Kmart is set to close a few stores across Australia due to coronavirus pandemic Some stores in Queensland, NSW and Victoria will temporarily be closed The trial is … 'The ones that are going to survive are the ones that have captured something special. Kmart Northcote Plaza in Melbourne will shut its doors for good on November 22 2020 when their lease ends. I’m disappointed and excited by this news, I can’t believe that such a large retailer as Kmart would not be doing well. Ms Levine did not name any particular companies who could be the next to close. From space hoppers to sideboards, you can cash in on your 1970s kitsch. ', Popular jewellery and accessories chain Colette by Colette Hayman was placed into voluntary administration in January.

Last year, parent company Wesfarmers reported that earnings for Kmart and Target had been “below expectations” and that sales for Kmart had been flat in 2019. Myer closed 74,670 square metres of stores in 2015-17 and shut down its Colonnades store in Adelaide and Belconnen outlet in Canberra. Lots of fabulous products at affordable prices.

Now the chief executive of a leading market research company has told Daily Mail Australia that businesses which cannot carve out a niche will remain under threat from foreign giants.

'The whole logic of this is if you don't have something really special, you could be in trouble. !”, Leave our precious Kmart alone!! Are you affected by the Kmart or Big W closures?

This closure comes at a time when another discount retailer Big W, is starting the process of shutting down 30 stores across the country.

Queensland University of Technology retail expert Dr Gary Mortimer said Australian companies were not being quick enough to adapt to the changing retail landscape and consumer preference. Oh dear, we hope it isn't true - a riot will break out!

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levies for every employee, public liability insurance (it is massive) and sends many businesses, sports organisations and charity organisations to the wall, compulsory Superannuation businesses pay, and utility charges to name only some of the expenses there are many businesses struggling. Shoppers have been left devastated by confirmation that a much-loved store is closing down this year after almost 40 years. A lot of commercial property owners are looking for more tenants, So many businesses are struggling – it’s sad, Yes l am devastated about K mart closing at Northcote plaza & the 2 Coles stores aswell as l live in between Balaclava & Northcote and that is where l do all my weekly shopping & most of my clothes shopping for my young Daughter all of the other clothes shop’s in Northcote are very Expensive Especially for children l am only a single mother, I would be devastated if my local Kmart closed down.

Buying is the domain of Ali Baba and Amazon, while shopping is inspirational, aspirational and emotional,' he told 9 Finance.

Doesn’t affect me too much. Major fashion chain Bardot also announced plans to close 58 stores nationwide before March, The brand is yet another retail store that had collapsed, following Harris Scarfe, Bardot, Roger David, EB Games and Napoleon Perdis. I’m not affected thank goodness, I love visiting my local Big W and especially my local Kmart store.

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Australia is headed for a retail apocalypse that could even kill off Myer, which closed its store in Hornsby, Sydney, after 40 years of serving customers. The comments below have not been moderated. However, others recognise that the centre desperately needs an overhaul and with Kmart gone, many shoppers will take their dollars elsewhere. As in I never find anything I want to buy in Target but never walk out of Kmart empty-handed.”, “I think it's a terrible idea! Wesfarmers have received a recommendation to sell Kmart in order to save Target.

Coles was about $39 billion.

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