Beaurepaires to close 100 stores and lay off 700 workers as future of Australia’s oldest tyre retailer remains in doubt
- Beaurepaires to close 100 stores
- About 700 staff members are to be laid off
The future of Beaurepaires has been thrown into doubt with Australia’s oldest and largest tire retailer set to close 100 stores and lay off 700 workers.
The massive change comes after plans to sell Beaurepaires to a competitor fell through.
Beaurepaires was founded over 100 years ago in 1922 in Melbourne by Sir Frank Beaurepaire.
The company is now owned by Goodyear Dunlop Tires Australia, a subsidiary of the US-based Goodyear Tire and Rubber Company.
Goodyear Tire and Rubber Company announced to the U.S. stock market in September that it plans to make the company more profitable by cutting about 700 jobs, nine warehouse locations and selling or exiting about 100 retail and fleet stores.
The future of Beaurepaires has been thrown into doubt with Australia’s oldest and largest tire retailer set to close 100 stores and lay off 700 workers
The move is part of the Australian subsidiary moving to a ‘third-party distribution and retail sales model instead of a company-owned approach’.
An insider who wished to remain anonymous said News.com.au that Goodyear Tire and Rubber Company was in talks to sell Beaurepaires to rival tire retailer, Bob Jane Corporation.
Talks about buying the entire chain of retail stores fell through when the Bob Jane Corporation opted to buy only “the select few that are actually making money,” according to the insider.
They also claimed that all remaining Beaurepaires stores will be closed by April.
However, this was disputed by the head of human resources transformation and communications for Goodyear Dunlop Tires Australia, Lauren Voucatos.
Ms Voucatos told the publication that while the company had ‘started evaluating different scenarios for different parts of our business’, it had not come to any final decisions.
More to come
A company insider said the hundreds of jobs and stores will be cut in April after talks to be bought out by rival Bob Jane Corporation fell through (pictured, Beaurepaires worker)