About 100 jobs in Braybrook are in jeopardy in the wake of a decision by Woolworths to offload or close its troubled Masters stores.
Losses topping $600 million over the past four years with no sign of a profit on the horizon have spurred the company to either sell or wind up its home improvement businesses.
The decision will impact Masters stores in Braybrook, Caroline Springs and Williams Landing and a further 60 locations across Australia.
Woolworths announced on Monday that it was looking to either sell or wind up Masters and Home Timber and Hardware after heavy losses.
Woolworths Chairman Gordon Cairns said it was forced to make the hard decision as it would take “many years” for Masters to become profitable.
“Our recent review of operating performance indicates it will take many years for Masters to become profitable. We have determined we cannot continue to sustain ongoing losses from this business,” he said.
“We intend to pursue an orderly prospective sale or wind-up of the business.”
Mr Cairns said the process will take at least two months to complete while a “potential sale process or other exit process will take additional time”.
Losses at Masters reached $245 million in 2015.
The Shop, Distributive and Allied Employees Association told Fairfax Media the looming sale or closure has left 10,000 workers and their families facing an “uncertain future”.
“This is obviously a devastating time for workers and their families,” union national secretary Gerard Dwyer said.
“If a sale cannot be secured, we’ll be ensuring that every possible avenue for redeployment of Masters’ dedicated, hard-working employees is explored.
“The union has already sought and been given assurances that Woolworths would be working closely with staff and the SDA to maximise redeployments should the business have to close.”
