G GAY and Co owner David Gay says he is disappointed a decision surrounding the future of his company has been postponed indefinitely.
The Australian Competition and Consumer Commission was due to make a final decision next week on whether Gay's could be sold off to a joint venture between Woolworths and American company Lowe's.
The decision was due to be handed down next Thursday, July 5, but it has now been pushed back indefinitely.
Mr Gay said he had been given no indication as to which way the ACCC was leaning, and was frustrated that it had been pushed back.
However, he remained positive about the proposed takeover, encouraged by the fact the leading watchdog was putting a lot of consideration into the
On the ACCC website, it says the decision has been "delayed pending receipt of further information from the parties".
It is concerned the sale could create a monopoly on the Ballarat hardware market.
"Our initial fears were that they had made their first opinion and that it would be difficult to sway," Mr Gay said.
"At least it shows they are considering our submissions, which is a positive."
He said with large business deals on the line, he wanted a decision "as soon as possible".
The ACCC report expresses concern that Woolworths is wiping out a competitor in the Ballarat hardware market by taking over two G Gay and Co stores.
It regards Dahlsens and Bunnings as the only two other competitors in the city.
The ACCC said Masters also planned to open a big-box store on Learmonth Road, Wendouree, next year, which would give it four out of the six retail hardware stores in Ballarat.
Masters is also owned by Woolworths.
G Gay and Co disputes there will be a market monopoly, pointing to Whiteheads Timber Sales and Robert Sim building supplies as other key competitors.