Perth Megamart to be sub-let

COLES Myer has agreed to sell six Megamart stores to Harvey Norman and sub-let a further three, including the Megamart on Beaufort Street in Perth. Perth’s Megamart store closed on Sunday, as did two Sydney Megamart stores that were not part of the deal. Four Melbourne Megamart stores, as well as one in each of Sydney and Brisbane will join the stable of 160 Harvey Norman stores on November 23. The stores ceased trading as Megamart last weekend. Coles Myer had not made a profit on the Megamart stores since they were created in 1998. Harvey Norman has indicated an interest in securing Megamart employees to work in the purchased stores or within the other Coles Myer brands.