Future uncertain for local Target stores
DESPITE being spared during last year's cull, it seems time may have run out for a number of northern NSW Target stores.
Parent company Wesfarmers announced in 2018 it was closing number of stores in the chain to achieve a 20 per cent overall reduction, which included Tenterfield's Target Country store.
However this time local stores may not have escaped closures following Wesfarmers' announcement this morning that up to 167 stores could disappear forever over the next year.
Under the drastic plan, up to 75 Target stores will be closed down while 92 will be converted into Kmart outlets, which Wesfarmers also owns.
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The shock announcement regarding the struggling discount department store chain was made in a note to investors on Friday morning.
It revealed a number of plans designed to "accelerate the growth of Kmart" and "address the unsustainable financial performance of Target".
They include converting "suitable" Target and Target Country stores to Kmart stores, the closure of between 10 to 25 large format Target stores, the closure of the remaining 50 small format Target Country stores, and a "significant restructuring of the Target store support office".
Which of our local stores could be affected?
With the majority of Target stores in northern NSW under the Target Country brand, including Casino, Goonellabah, Ocean Shores, Yamba and Murwillumbah, these stores could potentially close or be converted into smaller Kmart stores.
With Wesfarmers also planning to close a number of Target branded stores, the fate of local stores at Ballina, Grafton and Tweed Heads is unknown.
Wesfarmers and Target have been contacted for comment.