Department store Myer will exit its Queen Street Mall flagship in Brisbane’s CBD after unsuccessful negotiations with the landlord on lease renewal terms.
In a trading update, the retailer said it will continue to search for alternative locations for its CBD flagship.
Myer CEO, John King, said: “Whilst we remain committed to the Brisbane market, we have been unable to negotiate a reasonable commercial outcome with the landlord and as such will continue to look for an alternative CBD location.
“We thank our team members for their service and will be providing redeployment opportunities at nearby stores.”
The current store will cease trading at the end of July this year.
- Further reading: Myer sales surge in a buoyant post-Covid era
