A Myer spokesman declined to comment on the legal proceedings in Adelaide but said it will search for alternative locations in Brisbane.
Myer recently reported record first-half sales and its highest interim profit since 2014. It has long been shrinking floor space and closing stores as part of a strategy pursued by its chief executive, John King. A year ago, Myer closed its Blacktown store in Sydney’s outer west. It has also closed stores at Logan in Queensland, Hornsby in NSW and Knox and Emporium in Victoria.
In Adelaide, Myer’s landlord Starhill said the dispute involves the 52 per cent of the centre occupied by Myer itself, a lease which generates around $15.4 million for its landlord annually.
Vacancy along Rundle Mall is sitting at about 4 per cent, according to one local leasing agent who wished to remain unnamed. Japanese brand Uniqlo opened on the ground floor of Myer Centre last year, and more recently Bed Bath N’ Table moved into the centre.
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