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Hastings Co-op store closure amid poor business climate leaves another NSW town without local supplier

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Cost Of Living,Businesses Closing Mid North Coast,Cost Of Living Crisis

As spending tightens amid significant inflation and high interest rates, essential town department stores are finding it difficult to do business, leading to closures that are devastating communities across regional NSW.

Small towns in parts of New South Wales are losing essential local stores as tough business conditions leave owners with no choice but to shut up shop.

Small business operators in the village told the ABC they're concerned there will be a fall in customer numbers as people who used to come into town for their rural supplies go elsewhere. Mr De Groot said he could have ended up struggling with payment defaults if he did not close the three stores. "That is a very negative figure and that is something we have to watch. We don't know yet whether that is a trend or not."Nichole Forrester has relied on shopping at Hasting River Co-op's Department Store for 25 years."It's just a real betrayal in a way. The meant to keep this town as the unique place that it is," she said.Wauchope's population is 6,500, but the Department Store's Facebook followers total 8,200, indicating its popularity beyond the town.

It includes increasing pressure on big business to improve payment times by naming and shaming late payers.

 

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