Ballarat is set to lose another iconic business with Thomas Jewellers announcing all of its regional outlets would close in the coming months, more than 120 years after the store first opened.
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James Thomas first opened the jeweler on Sturt Street in 1896, with the business opening a succession of outlets across Victoria and New South Wales including Melbourne, Bendigo, Albury, Wagga Wagga, Geelong, Shepparton.
As recently as this month the business opened its first Warnambool outlet.
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A statement said The Thomas Group was shifting away from jewelry “to refocus their attention to areas of strength and growth within their business”.
“This news marks the end of an era and the beginning of another, as The Thomas Group will be leveraging the current growth in the capital cities to consolidate and expand its commercial and residential portfolio,” the statement read.
The flagship Melbourne outlet in the Royal Arcade, which was opened in 1987, will remain in within The Thomas Group and will be leased out to a new tenant in early 2018.
The decision comes just one month after the company’s Ballarat building was sold for more than $3 million, the same building the business began in back in 1896.
Commerce Ballarat chief executive Jodie Gillett said it was sad to see a long term Ballarat business leave the city, particularly given the potential job losses.
Staff were notified of the decision to abandon the retail outlets last Tuesday. It’s believed at least 10 Ballarat employees are likely to lose their jobs.
“It is a really iconic space and we hope we have another retailer operating their soon,” Ms Gillett said.
“Unfortunately sometimes the time just arrives for certain business and its another example of the importance of innovation and keeping with the changes in industry.”
The announcement comes on the back of a series of high profile business exits from the city in recent weeks.
On October 17 30 Oliver Footwear employees were told they would be out of a job in 2018 as the Ballarat-born business shifts its manufacturing entirely offshore, bringing to an end 130 years of operation in the city.
In the same week almost 40 Armaguard employees were informed the company was shifting its operations to Bendigo and Essendon by November 17.
The Thomas Group did not respond to requests from The Courier for further comment.
