A bunch of Target Australia stores are about to rebrand to Kmart
The latest victim of the COVID-19 induced retail downturn.
The retail sector has been struggling for a while now, but COVID-19 has sounded the death knell for numerous retail chains and stores, both globally and at home.
Australian retail giant Target has been in turmoil for some time, but this morning Wesfarmers, the parent company of Target and Kmart, announced that up to 40 large-format Target locations and 52 Target country stores will rebrand to Kmart stores.
There will also be 25 large-format Target and 50 Target country store closures. At this stage, it’s unknown which stores will be affected, but overall roughly half of Target’s Australian operation will be converted or closed.
The move will see up to 1,300 positions at Target disappear, but Wesfarmers has said that it will attempt to “identify redeployment opportunities for affected team members, including in Bunnings and Officeworks.”
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