If the businesses are not bought by another company, it is expected all Masters stores will be closed. 

In a statement released on Monday, Wooloworths Limited said it expected the process to take several months but businesses would continue to operate as normal through this period. 

“Our recent review of our operating performance indicates it will take many years for Masters to become profitable. 

“We have determined we cannot continue to sustain ongoing losses from this business,” the statement reads. 

“Woolworths’ top priority is to do the right thing by our employees, suppliers, customers and shareholders, and we will act quickly and openly to minimise the impact of this decision

“If Woolworths is unable to sell all of the business and has to close any of the operations, it will seek to provide alternate employment opportunities within the Woolworths Group to all current home improvement employees.”

The move puts jobs at risk across the country, depending on if the businesses are sold or not. 

An employee at the Wendouree store, who asked to be anonymous, said colleagues were not surprised by the announcement, however, they were disappointed. 

“It is something that was always talked about,” the employee said. 

“But people are disappointed.” 

“The perception is that everyone is fairly upbeat at the possibility of it selling so that they may still have a job into the future.

“It is not going to being immediate, so if it isn’t going to continue, everyone has time to think about what they want to do.” 

Unlike the disastrous announcement of Dick Smith stores going into voluntary administration recently, Woolworths announced all gift certificates would still be honoured. 

“Woolworths will honour all gift certificates, product warranties, returns, and lay-bys and the completion of any contracted home improvement projects such as kitchens, bathrooms and floor coverings,” the statement from Woolworths reads. 

“Any gift cards can already be used at other Woolworths Group stores.”

The Wendouree store, located on Learmonth Road, was opened in 2013 at the  Eureka Homemaker Centre.

The store is currently the only building in the centre, with construction on an Aldi store expected to begin during this year.