Up to 167 Target and Target Country stores will be shut or converted to Kmart sites, putting as many as 1,300 jobs at risk.
The retailer’s owner Wesfarmers is shrinking the struggling chain.
With more than 280 Target stores in Australia, the restructure could see more than half of the Target store network gone.
Following a review, the conglomerate says it will convert 10 to 40 suitable Target locations into Kmarts and shut between 10 and 25 further Target stores.
Around 52 Target Country stores, which are concentrated in regional areas, will be converted to smaller-format Kmarts, while the 50 remaining Target Country stores will shut.
The manager of Wesfarmers’ department store division, Ian Bailey, said the final number of store conversions would depend on individual negotiations with landlords.
The restructure will also see a “significant reduction” in the size of the Target support office.
Read more here: https://www.abc.net.au/news/2020-05-22/up-to-75-target-stores-to-be-closed-down-others-to-be-converted/12275390
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