Big W Rumours Fly After KordaMentha Hire
Embattled discount department store, Big W, has reportedly hired insolvency firm, KordaMentha, to assist with store closures, sparking rumours of further re-structure and a possible wind-down.
The firm was also used by parent company Woolworths to liquidate its failed hardware venture, Masters, in 2016.
Some commentators speculate Woolworths could use its Endeavour Drinks de-merger to finance the closure of Big W, with costs tipped to exceed $2 billion.
Back in April, Big W announced it was axing 30 of its 182 stores to boost profitability.
Wesfarmers-owned Target Australia is also implementing several store closures, with many outlets re-branded to Kmart.