{"id":90353,"date":"1999-12-31T00:45:00","date_gmt":"1999-12-30T13:45:00","guid":{"rendered":"http:\/\/smartoffice.com.au\/is-big-w-masters-set-to-flogged-just-like-dick-smith\/"},"modified":"1999-12-31T00:45:00","modified_gmt":"1999-12-30T13:45:00","slug":"is-big-w-masters-set-to-flogged-just-like-dick-smith","status":"publish","type":"post","link":"https:\/\/staging.strixdevelopment.net\/smartoffice\/1999\/12\/31\/is-big-w-masters-set-to-flogged-just-like-dick-smith\/","title":{"rendered":"Is Big W &#038; Masters Set To Flogged Just Like Dick Smith?"},"content":{"rendered":"<p>Woolworths who are struggling with their Masters and Big W stores could consider flogging the two retail groups in the same way that they offloaded their Dick Smith assets claim analysts.<\/p>\n<div><span style=\"font-size: 13.3333330154419px; font-family: sans-serif;\">Back in 2012 Anchorage Capital acquired the Dick Smith assets from Woolworths for an initial $20M and a later payment of $74M, 18 months later the consumer electronics retailer was floated for $344M. The Company was not available to comment on the latest rumour that two more Woolworths assets could go up for sale.&nbsp;<\/span><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\">&nbsp;<\/span><\/font><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\">Global buyout firm Kohlberg Kravis Roberts is believed to be circling the struggling Woolworths operation who recently reported a 12.5% slump in profits.&nbsp;<\/span><\/font><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\"><br \/><\/span><\/font><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\">Several private equity Companies have told ChannelNews that they would be interested in buying the Big W and Masters chains who recently expanded their consumer electronics and appliance offerings.<\/span><\/font><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\"><br \/><\/span><\/font><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\">Last week Woolworths appointed Gordon Cairns as Woolworths&#8217; new chairman.<\/span><\/font><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\"><br \/><\/span><\/font><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\">Shortly after his appointment the former Lion Nathan boss and current Origin Energy chairman signalled that all aspects of the business would come under review, he did not rule out selling Woolworths assets.&nbsp;<\/span><\/font><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\"><br \/><\/span><\/font><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\">While Woolworths has never been a seller, Mr Cairns&#8217; comments after his appointment on Friday would have offered acquisitive buyout firms some encouragement.<\/span><\/font><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\"><br \/><\/span><\/font><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\">After being appointed chairman, Mr Cairns, a veteran consumer goods executive, told The Australian he had &#8220;an open mind&#8221; about the future of the Masters hardware store chain and would make a decision based on the facts once he was in the job.<\/span><\/font><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\"><br \/><\/span><\/font><\/div>\n<div><font face=\"sans-serif\"><span style=\"font-size: 13.3333330154419px;\">&#8220;Given that the facts look so disadvantageous for Masters, we see this comment in a very positive light,&#8221; Bank of America Merrill Lynch analyst David Errington, in his research commentary.<\/span><\/font><\/div>\n<div style=\"font-family: sans-serif; font-size: 10pt;\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Woolworths who are struggling with their Masters and Big W stores could consider flogging the two retail groups in the same way that they offloaded their Dick Smith assets claim analysts.<\/p>\n","protected":false},"author":42,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[28,692],"tags":[],"class_list":["post-90353","post","type-post","status-publish","format-gallery","hentry","category-archive","category-property","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Is Big W &amp; Masters Set To Flogged Just Like Dick Smith? 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