Woolworths Looks To Sell Over 500 Service Stations

Much like its failed Masters hardware chain, Woolworths looks set to retreat from its foray into the world of fuel retailing.

The 500-strong site list for Woolworths Plus is estimated to be worth $1.6 billion, but a downward spiral for much of Woolworths’ business ventures in recent years has seen sales fall more than 18 percent for the last financial year.

The combined sales figure from fuel and grocery retail is down more than 40 percent.

The business giant decided to go it alone from the start, building ill-advised ‘shoebox’ sized service stations in the hope customers would be driven (no pun intended) to its supermarkets instead for grocery items.

Woolworths built up an army of around 150 service stations, before rival Coles signed a well-concealed deal with Shell giving it access to around three times as many sites as Woolworths overnight.

Caltex