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Smith & Caughey’s consider closure plan amid economic challenges

Smith & Caughey's news
Image – Screenshot, Google Maps.

The iconic Auckland department store with a 144-year history, has announced closure plans for both its physical and online outlets, expected by early next year.

The decision was shared with approximately 240 employees and involves a five-week consultation period to explore feedback and possible ways of continuing in business.

The store, a fixture in Auckland since its establishment by Marianne Smith in 1880, is facing a significant downturn with a 40% drop in revenue over the past five years, largely attributed to factors beyond their control. This includes increased competition, infrastructure disruptions in the CBD, and shifts in consumer behaviour post-Covid, all leading to unsustainable operational losses.

Chairperson Tony Caughey described the situation as a “perfect storm” that has severely impacted the store, compounded by the ongoing cost-of-living crisis and decreased consumer confidence.

Despite exploring over a dozen future strategies, the board has found no viable solutions to mitigate the risks associated with further investments.

The company now faces the reality of potentially ending operations, focusing on managing the transition for its staff.

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3 COMMENTS

  1. Infrastructure disruptions in the CBD, and shifts in consumer behaviour post-Covid, are both goals of globalist agendas.
    The war on the automobile, inner city traffic and making life for car owners as difficult as possible is piece of the parcel of UN agenda 21 and 30.
    Covid and the next viral creation of the WEF monsters is used to destroy authentic economies.
    And NONE of our public servants gives a damn, being either too stupid or too corrupt to work for the NZ people.
    NZ is going down fast.

  2. Got notifications today that FlyBuys is ending after 28 years!
    Fair Go- done after 28+ years…
    Sunday-gone after 20+ years…
    Supermarket shelves are becoming skint in several Countdown / Woolworth’s stores.
    Brand names are disappearing…
    Hyper-inflation with the pricing as well!
    This is all a part of eradicating the ‘human waste of useless eaters’ as per the WEF and the UN Agenda 30.
    No tent is nuclear bomb proof…and hiding in caves only results in confrontations with the Reptilians who would be pissed off that you interrupted their meal of cannibalised kids, as per the contract between the aliens and then-U.S. President Harry Truman…
    (Note- mass surveillance began under Harry Truman with the National Security Act of 1947 which also established the CIA & USAF, hence the movie ‘The Truman Show’ of a targeted individual on display for the whole world to see!
    Make no mistake- the eradication of good, services and human are part of the Great Reset.
    Don’t knock on my door when your food runs out, and families start pimping out their children so thay can have inflated $$$’s to purchase cancerous processed food to eat…!

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