MASTERS stores will cease trading by December 11 after Woolworths Limited agreed three separate contracts to facilitate its exit from Home Improvement for estimated gross proceeds of $1.5 billion.
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Woolworths CEO Brad Banducci said the company will do the right thing by its employees, customers, suppliers and shareholders during the exit process.
“We will work hard to find Masters employees jobs within the Group, or pay full redundancy where suitable roles are not available,” he said.
Kelso’s Masters store opened in February, 2014 and employs 90 staff.
More to come.