What Target shutdowns mean for Roma store
THE future of Target Roma is in limbo, after Wesfarmers made the shocking announcement on Friday morning that a shake-up of the Kmart group would see a number of Target stores across Australia close their doors.
Over the next year, up to 75 stores will be shuttered and 92 others will be converted into Kmart outlets, after a review into the struggling retailer.
While no decision has been announced on what that means for the beloved Roma store, a Target spokeswoman said the company was committed to supporting the team.
“Across the Kmart group we have made a significant effort to avoid store closures and retain our people, and for impacted store team members we have the benefit of time to help find alternative employment opportunities,” she said.
“All team members in Target stores scheduled for conversion to Kmart will be offered the opportunity to join the growing Kmart team, for other affected Target team members, we will work with them to identify and offer other redeployment opportunities in Kmart, Catch, Bunnings and Officeworks as these businesses continue to grow.
“We believe that Target has a future as a leading retailer in Australia and we know it is loved by so many, but a number of actions are required to ensure it is fit for purpose in a competitive, challenging and dynamic market, including a smaller number of stores and a stronger online business.”
More information is expected over coming days.
On Friday morning Wesfarmers, the parent company of the Kmart group, made up of Target, Kmart and Bunnings, told the ASX it had identified “a number of actions to accelerate the growth of Kmart and address the unsustainable financial performance of Target”.
“These actions include the conversion of 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,” the company said.