Science and retail brand Australian Geographic Retail (AGR) has started to close its 67 outlets.
AGR owner Myer Family Investments (MFI) intends to close operations of the loss-making brand.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The brand will completely close down all its outlets in early next year.
MFI acquired the chain in 2007; but the brand slipped into losses as a result of growing competition from retailers such as Kmart.
However, this move will not affect the Australian Geographic magazine, which operates as a separate entity from the retail brand.
The stores sell items such as science equipment, telescopes and toys.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataMyer Family Investments manages several investments across different segments, and operates Myer department stores separately as a public company.
