Many individuals start planning for home improvement with the kitchen cabinets. Following a 8 month overview process by which presents for the enterprise had been thought of, it was announced on August 24 2016 16 that all Masters shops would stop trading on or earlier than December 11 2016, GA Australia (a part of the Nice American Group, a completely owned subsidiary of B Riley Monetary) was appointed to manage the sale of stock, and offered an underwritten recovery to ship gross proceeds of approximately $500 million.
After Masters introduced its closure, hardware advisor of DGC Advisory, Geoff Dart, stated the hardware chain may have stayed afloat if it rebranded itself as Woolworths’ different constructing model, Dwelling Timber & Hardware, and focused on promoting paint, carpet and tiles instead of timber and instruments.
Residence Consortium (a three way partnership between Aurrum Group, Spotlight Group and Chemist Warehouse) acquired the Masters property portfolio, including 40 freehold trading websites, 21 freehold development sites and 21 leasehold websites.
Ways wherein Masters will differentiate from its competitors include shops which are more brightly lit, more colourful with polished concrete, large color signage and retailer shows, it aims to position more emphasis on attracting female consumers.