Melbourne carpet giant closes stores after cashflow crisis

Iconic Melbourne carpet and flooring company Macey’s The Flooring Giant has closed six of its seven stores and will now try to sell them after being hit by a cashflow crisis.

Iconic Melbourne carpet and flooring company Macey’s The Flooring Giant has closed six of its seven stores and will now try to sell them after being hit by a cashflow crisis.

Macey’s, a well-known retailer and wholesaler of floor coverings for over 40 years, operated seven stores around Victoria.

Six of these stores have been closed in the last two weeks, while the company’s flagship store in the Melbourne suburb of Oakleigh is believed to have been purchased by the store’s former management.

Macey’s owners are currently looking for buyers for the six remaining stores.

According to one former employee, the chain has been hit by cashflow problems in recent months.

After operating out of one store for many years, Macey’s expanded quickly around five years ago, but the employee says the rapid growth put strain on the company’s finances. Several of the company’s staff have already resigned.

The employee says the closures are “an absolute shame. We had a great name because we provided great value and products.”

It is believed that many of the unfulfilled customer orders from the closed stores have been bought out by the new owners of the Oakleigh store.

The owners of Macey’s did not return calls this morning.