One-hundred-and-sixty-seven Target stores across Australia are to either close or be rebranded as a Kmart store with Target Country, including its Lakes Entrance store, making up a large number of the closures.
It was announced by Wesfarmers on Friday that although Lakes Entrance Target Country is one of those to close, it will be reopen as a Kmart store.
This is to take effect in 2021.
Bairnsdale and Traralgon have been named as two of the 75 stores to close permanently.
Wesfarmers claimed they have made every effort to find a sustainable path forward for Target, but growing pressure from international retailers and more focus on online business has forced the decision. The COVID-19 pandemic has also seen a slump in sales.
IMAGE: Lakes Entrance’s Target County store will become a Kmart in 2021. (PS)
