Smarthouse has the news that Harvey Norman are closing down their Woden operation after thirty years trading:
Harvey Norman COO John Slack-Smith claims that the decision not to renew the Woden lease after 30 years of trading at Woden was based on “commercial grounds”.
A NSW franchisee said “This is just the start, I think you will see more store closures as leases become due especially in locations where the landlord is not going to take a cut in their lease deal”.
They added “Westfield has several organisations wanting to get into their shopping malls so they are not going to take a bath on a lease just because Harvey Norman is performing poorly. Where Harvey Norman is a key tenant the situation could be different”.
Further comments by Slack-Smith suggest they’re looking for another southside location. Plenty of room in the Hyperdome?