Could moving into groceries save the Red Shed from the risk of extinction?
Could moving into groceries save the Red Shed from the risk of extinction?
24 July 2024
The Warehouse Group has confirmed it's now received a formal takeover offer from an Australian private equity firm.
It could see company founder Sir Stephen Tindall take on a greater role with the company -- potentially paving the way for The Warehouse to become a clearer third player in the supermarket industry.
Greg Smith from Devon Funds Management says it could be a smart move, as the "everyone gets a bargain" space gets increasingly more crowded.
He says The Warehouse is currently stuck in the middle between Briscoes, Kmart and Temu, so groceries may be the best way forward.
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