Couple to walk away with nothing as corner store closes End to part of history
SOLOMON Lew’s Premier Investments and Myer have traded more blows just two days out from the department store giant’s strategy day for investors.
Premier, Myer’s largest shareholder, says it is considering legal action against the retailer’s board over an alleged lack of disclosure ahead of Myer’s strategy day tomorrow.
Meanwhile, Myer has written to shareholders arguing that Premier’s “hostile and obstructive” campaign shows it is acting in its own interest.
Premier, which owns Smiggle and Peter Alexander, yesterday said it was concerned that “deficient disclosure by the board of Myer” means the market is trading on an uninformed basis. It said the situation was untenable. WOOLWORTHS is expected to continue its recent resurgence with strong growth in firstquarter food sales.
The supermarket giant is set to release its quarterly report today and Citi analysts say its positive trading momentum improvements in its range and promotional activities will offset the lower fresh produce prices that have stymied sales growth at fierce rival Coles.
Coles last week cited lower fruit and vegetable prices when it unveiled a continued sales slowdown.
Citi has forecast Woolworths’ crucial comparable supermarket sales to rise 5.1 per cent, up from a 0.7 per cent lift in the same period a year ago.
Coles’ comparable food and liquor sales rose 0.4 per cent, lower than a 1.8 per cent lift in the same period a year ago. A CORNER store that operated when John Curtin was prime minister and Townsville was bracing for world war is closing with operators saying they will walk away with nothing.
“It’s pretty heartbreaking. We put our hearts and souls into this but it’s a matter of closing and walking away with nothing,” shop keeper and former MP Rob Mitchell said yesterday.
“It’s just got so hard to keep our heads above water.”
Mr Mitchell has been told by the building owner that Walkers Corner Store in Pimlico has traded as a suburban shop in the early 1940s about the time of World War II and possibly longer.
An illness requiring ongoing treatment for Mr Mitchell’s wife, Kay, has forced the closure although Mr Mitchell said dwindling trade, crime and rising costs were also reasons.
“It just got a bit too hard,” Mr Mitchell said.
“My wife has been very sick and we have had to take frequent visits to Brisbane.
“We might have to move closer to Brisbane for her treatment.”
Mr Mitchell said power costs had tripled to $ 1300 a month to keep the refrigerators and lights on while trade had been lost to shopping centres on Sundays.
Mr Mitchell has operated the shop for 12 years working up to 15- hour days, opening from 5am to accept bread, milk and newspaper deliveries.
One of his customers, Mysterton resident Bob Constantine, said the Mitchells and the store would be missed.
“They are nice people. They will be missed. Unfortunately, these sorts of businesses are closing all over town,” Mr Constantine said.
Retail consultant and Townsville Chamber of Commerce board member Michael Kopittke said there was a future for corner stores but that a recent State Government decision to extend trading hours for shopping centres, despite advice against the move, had not helped.
“You can’t keep giving the big guys trading hours and not expect it to impact on smaller businesses,” Mr Kopittke said.
Mr Mitchell was a former National Party Member for Charters Towers in the Borbidge Government and a former Flinders Shire councillor at Hughenden.
He declined to give a tip of the election result but was sure of one thing.
“I know what talk,” he said.
Mr Mitchell will close the doors of Walkers Corner Store for the last time today. bull they