A family-owned hardware store is closing its doors after more than 30 years, with devastated locals blaming a nearby Bunnings.
The independent store Miter 10 in Byron Bay announced it would close at the end of February in a Facebook post.
He told customers that he was having a ‘clearance sale’ and that ‘everything has to go’.
Its closure makes it the latest victim of big business, after a previous report predicted more than 6,000 independent retailers will close by 2024 due to bigger firms like Bunnings.
GDC Advisory’s forecast said Bunnings, as well as Woolworths and Miter 10, were intensifying competition and warned that smaller companies would not be able to keep up.
Consumer experts also warned that the expansion of so-called big box stores could spell trouble for smaller retailers.
Andrew Terry, Professor of Business Regulation at the University of Sydney Business School, previously told Daily Mail Australia: “When Bunnings comes to town, it’s bad news for local businesses.”
Reacting to the news of the closure of Miter 10 in Byron Bay, Richard Gibson, the store’s manager, described its closure as “the price of progress”.
Miter 10 has been privately owned by James Mitchell and Lisa Mitchell since 2001, first opening its doors in 1991.
There’s a Bunnings Warehouse less than a 10-minute drive away, and customers said the Miter 10 store’s closure was inevitable.
The store opened in 1991 and has been privately owned by James Mitchell and Lisa Mitchell since 2001.
Mr Gibson wrote: ‘The price of progress, I really enjoyed being part of the crew. To our longtime Byronic customers, newcomers and those just passing through. What an amazing crowd. You will be missed. Thank you all.’
The news sparked consternation on social media, with loyal fans sharing their shock.
Although the owners have yet to comment, there is a Bunnings Warehouse less than a 10-minute drive away and customers said the Miter 10 store’s closure was unavoidable.
One customer responded: ‘Honestly. In fact, I thought it had been there longer. Well, 22 years is a lifetime for some.
“I thought it would always be there, but I guess with a Bunnings around it had to happen.”
Another said: ‘Other than the Bunnings sale items, Miter 10 was always cheaper. Very disappointed to see them go.
One added: ‘Sorry to hear. We always go there instead of Bunnings. We will miss you.
Miter 10 told customers it was having a ‘clearance sale’ and ‘everything must go’
Its closure makes it the latest casualty of big business, after an earlier report predicted more than 6,000 independent retailers will close by 2024.
Richard Gibson, the store’s manager, described its closure as “the price of progress.”
Several customers took to Facebook to reveal their sadness over the store’s closure.
The store is now set to be replaced by a branch of Harris Farm Markets.
Daily Mail Australia has contacted Miter 10 for comment. Harris Farm has also been contacted for comment.
Deb Thompson, Bunnings Area Manager, said: ‘We have had the privilege of being part of the Byron Bay community for approximately eight years. The connection the store has to the community is really important to us, whether it’s helping to raise money for important local causes through our famous sausage sizzle, donating essential supplies after natural disasters, or supporting special projects from local organizations.
‘Our teams live and work in the communities in which we operate, and we always strive to provide continued employment opportunities in local areas.
“We have opened stores in many regions of Australia and New Zealand, and we believe there is ample space for both larger retailers and specialist providers in all the markets in which we operate. Retailers need to constantly adapt to ensure that their offer be attractive to the local communities they serve.
“There are a number of successful small businesses located near our stores that continue to thrive in nearly everywhere we operate, including the home-based, lifestyle and DIY space.”
On its website, Miter 10 describes itself as ‘proudly independent’.
‘We are family owned and operated in a local historic building, cementing our commitment to the community we have been a part of for over 40 years.
Last week, Bunnings announced that it will expand its range of pet products from a few hundred items, including dog beds and kennels, to 1,000 products.
‘We pride ourselves on supporting our local community and customers by helping schools, sports associations and other charitable groups in the Byron Bay area.’
The news comes amid growing fears about the expansion of Bunnings and other big box stores.
Last week, Bunnings announced that it will expand its range of pet products from a few hundred items, including dog beds and kennels, to 1,000 products across its national network by the end of March.
The move is likely to be a boon for Australian pet owners, as the department store chain is already popular for its convenience, affordability and even the $3.50 sizzling sausages.
However, business owners have accused Bunnings of bankrupting the industry, and experts have warned that big box stores have an unfair legal advantage over small businesses in the “war” for customers.
Consumer experts also warned that the expansion of big box stores could spell trouble for smaller retailers.
Bunnings boss Mike Schneider (pictured) said the new direction is in line with the rise in pet ownership over the past three years.
Professor Terry added: ‘Local businesses look to our laws to protect them, but the reality is they are not there to protect small businesses. They are there to improve consumer welfare and competition, and this allows companies like Bunnings, Coles, and Woolworths to prosper and win more customers.
‘Bunnings has done very well with their Saturday sausages and they are very smart with their market research. They know what to do for their market and brand.
‘It used to be that small businesses would be open longer and have that personal relationship with customers. However, now you have extended business hours and special offers and promotions from the big brands.
‘At the end of the day, the market is war. It’s a war for the customers and they want to win that war. It’s all about competition and by introducing 1000 new lines of pets, Bunnings wants to win.”
His comments were echoed by several other experts, calling on the government to ensure there is more protection for small businesses against giants like Bunnings.
Sharon Latour, international consumer and marketing consultant, said the Australian market favors larger companies.
“The way the Australian market is structured favors big brands like Bunnings as business expansions are combined with big property investments and sadly means smaller private labels are left out of the market.
“The cost of doing business and the tax scheme for smaller businesses is stifling for all industries in Australia, which is why our manufacturing is dying and our hospitality businesses are closing by the dozens every day.
‘There has to be reform to allow smaller companies to breathe a little and be able to compete, otherwise we will continue to see the Bunnings of the world take over entire sectors.
‘The future of Australia is big business and chains? The number of “for rent” signs in all major cities certainly points to that.
