Myer disclosure

I call on Bernie Brooks, CEO of Myer and the Myer Board to state publicly whether they plan to take up the new development in Hobart and that it will remain at the standard of store heralded in earlier times.

After final sign off of the Annual Report by the Audit Committee of the Hobart City Council, the disclosure of the contingency for the controversial Myer financial contribution will be released on the Hobart City Council website tomorrow at close of business.

Whilst I was not a member of Council when the deal was ratified in 2010, the decision was based on recommendations from a reputable economic expert report that claimed that if Myer was not rebuilt the City could suffer significantly economically.

Regardless of whether, with the benefit of hindsight, the current Council would now agree to such a generous incentive, the real question that remains “Will Myer publicly reassure the people of Hobart that they are committed to the current development and will Hobart still be receiving the state of the art shopping experience they were promised when the deal was negotiated?”.

Several meetings have been held between Bernie Brooks and senior members of the Council and the State Government in recent times.

Despite the fact that the physical building is taking place, the ratepayers and residents of Hobart deserve confirmation from Myer that they intend to proceed with this development. All the media hype about how much will be committed may be irrelevant if this major corporation chooses to walk away.

Myer announced recently that their sales were down and they were considering closing regional stores. With less than 2% of the national population, it seems questionable that Myer are serious about proceeding in Hobart in tough retailing times.