Meikles to shut down Greatermans

Meikles Limited is shutting down its upmarket Greatermans store and replacing it with Pick and Pay supermarket.

Director Mark Wood said Greatermans will close down on June 30 2014 and the move is a very exciting development which will meet the needs of customers in a good location.

Last year Meikles announced plans to make forays into the lower end of the market as part of strategies to boost revenue and unlock shareholder value.

Wood said Meikles planned to increase its Pick and Pay franchise in the country in an effort to increase revenue streams.

He said the group is also targeting to open two new supermarkets by year end.