WAGGA’S Joyce Mayne electrical retail store will close at the end of next month, apparently falling victim to a consumer preference for bigger shops and displays.
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The closure was confirmed yesterday by Gerry Harvey, the executive chairman of Harvey Norman Holdings Ltd, the parent company of Joyce Mayne.
Asked why the store was closing, Mr Harvey said: “Because it’s not making any money”.
“It’s just not profitable.
“I don’t think a shop that size is making money anywhere in Australia.”
About 10 people will lose their jobs as a result of the closure at the end of June.
A month-long closing down sale will start on Saturday.
Joyce Mayne has had a presence in Wagga since mid December, 2006, when it took over The Clef Retravision in the Riverina Plaza in Berry Street.
Mr Harvey said the Wagga store was too small.
“When people go into a shop they want to see a lot of TVs and fridges,” Mr Harvey said.
“These (smaller) size stores ... find it hard to compete with the larger format stores.”
The end of Joyce Mayne coincides with the opening of the massive Masters home improvement store on Hammond Avenue.
Mr Harvey said the Harvey Norman store in the Homebase centre was not affected by the Joyce Mayne closure.
“Harvey Norman is very good in Wagga; it is very profitable and we would never close a Harvey Norman shop in a major town like Wagga,” he said.
The Joyce Mayne closure comes amid a depressed Australian retail sector and fears the situation will worsen with a falling Australian dollar likely to push up the price of imported electrical goods and higher petrol prices putting pressure on household budgets.
