Myer will be closing its Knox store in Victoria as the retailer works to “rationalise its property portfolio” amid a downturn of bricks-and-mortar sales.
Knox will cease trading by the end of July this year, ending 44 years of trading.
Staff who work there will go through a “period of consultation” where Myer will attempt to redeploy them across the business where possible.
It is understood about 100 employees will be affected by the closure.
Located in Melbourne’s eastern suburbs, Myer’s Knox location was hampered by its close proximity to other outlets in Eastland, Fountain Gate, Chadstone and Frankston.
In a note to shareholders, Myer CEO John King said the closure of Knox was a step on the company’s journey to pivot more towards online sales.
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“We will continue to make targeted improvements to our store network, whilst reducing space and improving the offer for our loyal customers,” Mr King said.
“Our vision remains for Myer to be a data and digital-led retailer supported by our store network, which continues to be an asset to our business.
“We thank our Knox team members for their significant contribution to Myer, and we look forward to continuing to serve our loyal customers either in nearby stores or online.”
Myer also said it was undertaking “space reductions” at Belconnen, Cairns, Emporium and Morley with works currently underway at Highpoint, which are scheduled to be complete in June 2021.
The retailer shut its Logan store in January 2019 and its Hornsby store in January 2020.
Once Knox has ceased trading, Myer’s portfolio will be reduced to less than 60 stores.
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