With exactly five weeks until the hardware chain Masters shuts its doors forever, liquidators are ramping up discounts to 70 per cent and offering cheap last-minute deliveries of summer goodies like BBQs and patio furniture.
While the official final trading day for the failed Woolworths’ chain is scheduled for 11 December, spokesman for liquidators GA Australia Mike Whitfort said it would be a “miracle” if it lasted that long.
Regardless of when the stores actually close, all Masters staff will be paid up until December 11, meaning many will get their Christmas holiday early. Woolworths has offered to deploy all 7700 Masters employees into other parts of the business.
Mr Whitfort said that just under 75 per cent of stock has already been sold. “We are actually well ahead of schedule,” he said. “I’ve been quite surprised how well the stock has sold down across all categories. They haven’t given me the final dates yet but at the current run rate we’re going to run out of stock certainly before five weeks.”
The minimum discount in-store is currently 40 per cent going up to 70 per cent, with around 15-18 per cent of stock discounted at the highest level. Discounts are going to ramp up past 70 per cent soon.