Australian Geographic Retail – the retail arm of the Australian Geographic society – is reportedly set to close its bricks and mortar stores this coming year due to increased competition and hard losses.
Fairfax Media is this morning reporting the chain will close its doors by the end of this year unless a new owner can be found.
The stores are owned by Myer Family Company – a different company to retail business Myer – which acquired the chain in 2007.
The stores were reportedly offered to a number of buyers, according to the Australian Financial Review, but no one took the offer.
A spokesperson for the Australian Geographic Retail said: “AGR operates across some of the most competitive retail categories in toys, gadgets, books and licensed products. It is well known that these categories have experienced difficult trading conditions with significant competition from both online and discount channels.”
However, until the stores close it will be “business as usual”.
B&T is awaiting further comment from Australian Geographic Retial.
The magazine arm of the business is separate and will not be affected.
The news comes nearly a year after the ABC announced it was closing its stores, moving to an online environment.
“ABC Retail will review its lease arrangements with landlords and develop a revised retail model with a focus on ABC Shop Online and ABC branded outlets in other retailers,” said the ABC in a statement at the time.
Robert Patterson, director of ABC Commercial, also added: “The ABC Shops have been an important part of the ABC’s relationship with its audiences for the past 35 years and this decision has not been taken lightly. However, this strategy will create a more cost effective, nimble and flexible approach to servicing customers.
“This direction is also in keeping with the shift of ABC audiences to accessing content across an array of digital platforms, while maintaining an appropriate level of physical retail distribution.”
Lead image via Guihen Jones site.
The Works has announced the launch of ‘Question Everything’ a new brand platform and campaign for their newest client, Archie Rose. As a nine-year-old independently owned and operated Australian multi-spirit distillery, Archie Rose has garnered a devoted following among existing customers, with a reputation primarily built on white spirits – particularly gin. However in line […]
Brisbane performance agency farsiight has announced the launch of its new market positioning, Growth for Good, in response to a changing business landscape, marking a departure from a “growth at all costs” mentality that has defined the industry in recent years. Agency founders and brother duo, Josh and Ben Somerville, envision Growth for Good as […]
Australia’s largest privately owned transit media supplier, GoTransit Media Group, now offers unprecedented options for transit advertising in Newcastle – on both land and sea following their successful tender to supply interior advertising inside the popular Stockton Ferries. The national transit media company is already well acquainted with the thriving NSW market, having successfully operated […]
Heritage and People’s Choice have launched People First Bank, the new name for positive change in banking Australia’s largest customer-owned bank has unveiled its new brand, announcing that Heritage and People’s Choice will be unified under the new name of People First Bank. Chairman Michael Cameron said the highly anticipated new brand offered a compelling […]
L’Oréal Groupe Australia and New Zealand have announced one of the largest investments to the Great Barrier Reef Foundation to pioneer new coral restoration efforts in the region. L’Oréal Groupe Australia and New Zealand have announced today a new partnership with the Great Barrier Reef Foundation (GBRF), to help coral reefs withstand the devastating impacts […]
Effective immediately, S4Capital’s operating brand Media.Monks, a digital-first marketing and advertising services company, has appointed Matthew Godfrey to lead its APAC Content practice. With over 15 years of experience leading innovative businesses in the Asia-Pacific region, Godfrey will support a best-in-class senior leadership team across the region as EVP, head of content, APAC. He joins […]
Chandra Sinnathamby, Adobe’s director, digital media B2B strategy & GTM, Asia-Pacific, explains how the tech firm is empowering its small business customers with new AI tools, including its Adobe Firefly tools. In today’s fast-paced digital landscape, small businesses face numerous challenges when it comes to creating captivating content that resonates with their audience. Despite the […]
Summer mornings are heating up with Triple M again in 2023, thanks to the star-studded line-up of Harley Breen, Candice Warner and Tom Tilley, who are joining forces each weekday morning from 6-9 am for Triple M’s Summer Breakfast show. Airing from 4 to 15 December in Sydney, Melbourne, Brisbane, Adelaide and streamed live on […]
The Hit Network has announced its summer line-up for 2023, kicking off on Monday, 4 December, featuring The Jimmy & Nath Show, Hamish & Andy podcast, Nights with Seany B and special return celebrations for Christmas Day and New Year’s Eve. Hit’s cheeky radio duo Jimmy Smith and Nath Roye of The Jimmy & Nath […]
Full-service CX, media and advertising agency AFFINITY has completed an 18-month-long global rebranding for ASX-listed engineering powerhouse Worley. The rebrand reflects Worley’s commitment towards being a leading force in sustainable change. Worley, a global provider of professional services in the energy, chemicals and resources sectors working across six continents, has set out on a significant […]
Highlighting its craft and a world-class shopping experience, Australia’s favourite heritage brand R.M.Williams has announced a consumer competition to celebrate the opening of its new national flagship store at 345 George St. Sydney. Launching on 1 December in line with the new store opening, ‘If The Boot Fits’ invites brand lovers and new customers alike […]