Smith & Caughey’s has announced that the historic store will be closing by the end July.
This announcement is the outcome of the latest extensive consultation process with the staff about the business's ongoing viability, following the store's downsizing to a boutique single-floor format in February.
Closing the Queen Street retail and online store will result in 98 redundancies.
Smith & Caughey’s first shared its proposal to potentially close and restructure the 145-year-old business in May 2024, citing a range of external factors that created a perfect storm of adversity.
These included increased competition with the march from Main Street to new shopping malls, continued economic uncertainty, low consumer confidence, and spending power. In addition, many city office workers continue to work from home post-COVID pandemic.
The city centre has also faced significant disruption and change in the form of ongoing roadworks and the slow progress of CRL, causing traffic congestion.
Similarly, perceived safety issues, a large decline in foot traffic on Queen Street, and an increase in parking costs have all continued to impact our business's economic position.
Smith & Caughey’s thanked its customers for their loyalty, its brand partners for their support, and its staff for their incredible resilience.
A final “End of an Era” sale will commence at the Queen Street retail store on Wednesday the 28th of May. The Queen Street store will be closed Tuesday, the 27th of May for preparations.
The online store will be officially closing on the 30th of May 2025, and the Queen St store will be closing on the 31st of July 2025.
