Close×

Premier Investments chairman Solomon Lew has fired another missive at department store Myer.

It follows media reports that the planned closure of Myer's clearance floors has been reduced to a smaller, three week trial.

Premier believes this development is proof that Myer CEO John King is battling against the Myer Board, including chairman Garry Hounsell. 

“The awful clearance floors are part of Garry Hounsell’s “green shoots” for Myer and it appears he doesn’t want to allow Mr King to close them.

"Green shoots don’t grow in the dark, Mr Hounsell, but mould does.

"Don’t just switch off the lights for three weeks at three stores – back your CEO and close all of the clearance stores now.”

Lew said King confirmed the future closure of clearance sites at Myer's full year 2018 results announcement.

Premier has now issued a public statement and  directed the following questions to Myer:

"What is the point of this trial if the CEO is already publicly committed to closing all of the clearance floors by the end of 2019?

"What can be gained by trialling a process of switching the lights off on three stores for three weeks in any case?

"Why should the clearance stock be left in a closed, dark space for three weeks where it cannot possibly be sold?

"Surely the stock should be written off.

"Is Mr King being forced by his Board to backtrack on his commitment to close all of the clearance floors?"

comments powered by Disqus