Amid fire sale.
Masters Home Improvement has reportedly tried to cancel supplier orders in recent weeks as complaints continue to roll in about prices not being sufficiently cut to move stock as part of its closing down sale.
Masters has taken down all pricing information from its website and cut off its telephone lines to its stores. Customers calling the corporate helpline are advised to visit a store to check prices.
Reports suggest that stock divestment specialist Great American Group Australia (GA), responsible for the inventory sell-down, had moved too slowly and failed to capitalise on the sale.
Furthermore, Masters has reportedly tried to bring forward the delivery date for existing orders and may not continue to accept stock to free Woolworths from buying products and limit the risk of more unsold stock.
GA claims the fire sale is ahead of schedule and Masters may shut down ahead of the December 11 deadline announced in August.