The 188-year-old retailer, which runs 38 stores across Australia and New Zealand, plans to close up to 26 locations—potentially down to just 12—to combat mounting financial pressures.
It reported a $95.5 million pre-tax loss for the year to June 2025, worse than the previous year’s $74.1 million, after missing a key regulatory filing deadline and facing supplier issues.
Shoppers reminisce about childhood magic in its aisles while noting empty shelves and scarce staff today; unions worry over thousands of potential job losses as owner Anchorage Capital seeks rent relief ahead of Christmas.