American wholesaler Costco will not be acquiring Masters Hardware sites, with its Australian managing director attributing reports to a “mix up” in media coverage.
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Costco Australia managing director Patrick Noone said speculation the company were acquiring old Masters sites around the country was “incorrect” and Costco were not currently reviewing the Ballarat market and
Numerous media outlets this week reported the retail giant had its eyes on soon-to-be vacant sites following the collapse Woolworth’s home hardware business.
Mr Noone said the confusion appeared to have come from a consultant suggesting in the media that Costco take over the failed stores.
Ballarat has a Masters at Wendouree, which will close with other stores around the country by December 11.
Plans for the Home Consortium to take over the lease at Eureka Homemaker Centre and redevelop the site into a large format retail centre are unchanged, a company spokesperson said.
The consortium, which is comprised of Aurrum Group, Spotlight Group and Chemist Warehouse, announced it would acquire the majority of Masters sites in August.
Plans for the site are yet to be released.
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