Original article by Sue Mitchell
The Australian Financial Review – Page: 13 & 18 : 22-May-15

The Masters Home Improvement chain is expected to post a loss of at least $A200m for 2014-15. Deutsche Bank’s figures suggest that the hardware joint venture made a loss of $A66m in the March 2015 quarter and is losing some $A5.1m each week. Woolworths and US-based Lowe’s have invested $A3.07m in Masters so far, and recently invested an additional $A45m in the business. Lowe’s has a 33 per cent stake in the joint venture.

CORPORATES
MASTERS HOME IMPROVEMENT AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, LOWE’S COMPANIES INCORPORATED, DEUTSCHE BANK AG, CITIGROUP PTY LTD, HYDROX HOLDINGS PTY LTD, COLES GROUP LIMITED, ALDI STORES SUPERMARKETS PTY LTD, HOME TIMBER AND HARDWARE