Massmart could close over 30 stores in SA

File: The owner of Game and Makro which already took strain last year posted a billion rand loss for that financial year.

File: The owner of Game and Makro which already took strain last year posted a billion rand loss for that financial year.

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JOHANNESBURG - The owner of Makro, Game and Builders Warehouse is adding to the gloomy start to the year.

Massmart has announced that it's consulting with unions and other stakeholders about closing as many as 34 stores.

This could lead to over 1,400 employees losing their jobs.

READ: Massmart suffers loss

The company says the talks are part of its “store optimisation strategy".

Massmart said in a statement:

"A final decision regarding the potential closure of the stores is dependent upon the outcome of a Section 189 consultation process with our affected colleagues and their representatives."

Massmart, which is owned by US-based Walmart, has not been performing well.

The company swung into its first half-year trading loss in two decades last year, thanks to tough trading conditions.

Source
eNCA