Final nail in the coffin for Masters as these stores take over

If you’re a regular Masters shopper, it’s time to get ready to say goodbye to the hardware giant.

Woolworths has finally announced the closing date for Masters stores – and it’s just around the corner.

Every one of the 62 Australian Masters stores will shut their doors by December 11, just two weeks before Christmas.

While the closure of Masters is bad news for staff, it’s great news if you’re looking to bag a bargain.

A Woolworths spokesman told the Sydney Morning Herald that a half-a-billion dollar fire sale will this week.

The sale is expected to clear out $600 to $700 million worths of stock from paint to barbecues, timber and vacuum cleaners.

Read more: New blow to Woolies as they try to win you back

What about your gift cards?

Well, Woolworths plans to honour those too.

The company has announced it will honour customer gift cards, warranties, returns and laybys, and will. complete any contracted installation projects.

You may be wondering what will happen to the Masters store when they close?

Read more: There’s a new superstore on the way

It turns out Bunnings plans to take over 15 Masters sites, 11 of which will replace existing stores.

The rest of the Masters sites are being eyed off by a number of major retailers.

Home Consortium, owned by the families behind two of your favourite stores – Chemist Warehouse and Spotlight, has bought the Masters sites.

It’s announced negotiations with JB Hi-FI, Super Amart, BBQs Galore, Woolworths and Dan Murphy’s to move into the remaining vacant Masters stores.

Read more: Bunnings set to become our ONLY hardware chain

Looks like your nearest Masters could soon become a Bunnings, Woolworths or Super Amart in no time.

It’s not just Masters that’s closing.

Woolworths is selling another one of your favourite hardware stores.

Home Timber & Hardware has been sold for $165 million and will be merged with Mitre 10 to create a new $2 billion player in the hardware game.

Are you sad to see Masters go? What will you be buying at the fire sale?