Woolworths to pull plug on Masters after Lowe’s exercises put option

Woolworths plans to pull the plug on its loss-making home improvement business Masters after buying out joint venture partner Lowe’s Companies for an as-yet-undisclosed price.
Woolworths chairman Gordon Cairns said on Monday that Australia’s largest retailer would sell or wind up the home improvement business, which has lost more than $600 million over the past four years. Sydney Morning Herald – Read more…