Woolworths to Shutter Masters Chain

Woolworths (Bella Vista, Australia) has reported it will close all 61 of its Masters Home Improvement Stores by December.

The cost to Woolworths’ shareholders is estimated at $1 billion, once sales costs are included, according to Macro Business. Woolworths Limited has appointed Great America Group, a subsidiary of B. Riley Financial, Inc. to manage the closures.