Megamart
Megamart was an Australian chain of stores owned by
Coles Myer which sold electrical and furniture items. It was a sub-store of department store chain
Myer, so it was also known as Myer Megamart. Some Megamarts were bigger than whole Myer stores alone.
According to Business reporter Stephen McMahon, the reason Megamart closed was that its "...small footprint meant it struggled to compete with rivals such as
Harvey Norman and
Dick Smith - while cannibalising Myer's own sales."[
1]
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1998: Myer open the first Megamart store in
Coorparoo, Queensland.
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2001: Myer announces plans to expand the Megamart chain of
furniture and
electrical stores.
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2005: Coles Myer announces plans to "divest" Megamart due to poor performance. All stores stopped trading on
13 November. Out of the nine stores, six were bought out by
Harvey Norman while the remaining three are to remain closed.
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Australian IT - Megamart goes Harvey Norman*
Coles Myer kills off Megamart
