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Myer Battles on, Re-Opens ‘Cursed’ Hobart Store

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By Published On: April 20, 20180 Comments

Despite scoring poorly on the latest Australian Corporate Reputation Index, Myer has its sights set on the future as it re-opens one of only two Tasmanian stores.

Popular opinion of Australia’s iconic department store, Myer has dropped substantially, as results from the latest Australian Corporate Reputation Index reveal Myer is now ranked in spot 45 out of 60, a steep decline from its position in the top 10 when it was first rated in 2009.

This news comes mere weeks after shareholders discovered a large portion of their stocks were ‘unmarketable,’ based on a share price of just 38 cents on April 10.

However, despite growing concerns over the future of the struggling business, Myer has gone ahead with the final development stage of its ‘cursed’ Hobart store.

Concerns over the future of Myer

Myer re-opens its ‘cursed’ Hobart store, despite concerns of voluntary administration.

Historically, Hobart’s Liverpool Street store hasn’t had the best of luck. In 2007, the store sustained millions of dollars worth of damage when fire ravaged the shop floor, then, in 2015 the basement was flooded when an underground rivulet caused a brick wall to collapse.

The re-opening of the completed store has been a long time coming, with the first stage originally opening in November 2015 – the second stage was officially unveiled yesterday, Thursday, April 19.

“I’m thrilled to be opening the second and final stage of our Myer Hobart store today, which demonstrates our strong commitment to our loyal Hobart customers and the wider community,” Myer’s Executive Chairman, Gary Hounsell said.

To mark the store’s re-opening, Myer today hosted a celebratory event for the wider community. The company’s Ambassador, Rachael Finch travelled to Hobart to take place in the festivities, as locals were invited to enjoy fashion shows, cooking demonstrations and fitness classes.

While it’s business as usual in Hobart, onlookers continue to watch the Myer saga with bated breath as rumours of voluntary administration continue.

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