By Craig Zammit
LITHGOW: Lithgow’s oldest department store, Bracey Ltd, has announced a major restructure which will see the 120 year old family business move its three existing buildings into one centralised location.
Effective immediately, Bracey operations will move into the local 1,500 square metre premises featuring Retravision and Mitre 10.
“We will be moving our furniture, curtains and bedding into the Mitre 10 location, Mitre 10 will then join with Retravision, who are already there, and that will be our one location,” managing director, David Bracey told current.com.au.
“We’ve decided to restructure the whole organisation by closing the clothing, manchester, shoes, toys and cosmetics departments,” he said.
Bracey believes that neither local competition nor the recent interest rate rise has had an affect on the 120 year old business, and puts the reason for the restructure down to economic conditions.
“The decision to restructure has come due to the general downturn in business, which has become a lot more acute recently, and the economy in general.”
“It has come as a bit of a shock to the town,” said Bracey
Bracey insists however that business will only go from strength to strength following the restructure and that there was still plenty of room for success.
“We’re not out for the count.”