Money Owner of Newcastle’s oldest independent hardware store Toolies opens up about the “heartbreaking” closure of a business locals loved

20:56  08 june  2017
20:56  08 june  2017 Source:

Amazon shares hit $1,000 for first time

  Amazon shares hit $1,000 for first time Shares in the online retail giant briefly rise above the $1,000 mark for the first time. The shares touched $1,001.20 at one point in early trade before slipping back to $998. It originally listed its shares in May 1997 for just $18 each. © EPA Amazon book store Amazon now has a market capitalisation of about $478bn, which is more than twice that of Wal-Mart.After starting as a bookseller, it has steadily expanded to become much broader-based retailer.According to consultancy Slice Intelligence. Amazon now accounts for about 43% of all online sales in the US.

Owner of Newcastle ' s oldest independent hardware store Toolies opens up about the " heartbreaking " closure of a business locals loved - SmartCompany.

Newcastle ' s oldest independent hardware store Toolies opens up about ' heartbreaking ' closure .http Tweet with a location . You can add location information to your Tweets, such as your city or precise location , from the web and via third-party applications.

Rob Chambers at Toolies Tool Specialists © Smart Company Rob Chambers at Toolies Tool Specialists

Newcastle’s oldest independent hardware store Toolies Tool Specialists has been solving customer’s problems for 44 years but its owner has made a “heartbreaking” decision to close the business in the face of tough economic conditions.

Rob Chambers has made the painful decision to close the business, which has been at its current site for 30 years, after rescuing it from liquidation in 2013.

At the time he was general manager of the store and couldn’t bear to see it close, so he made the decision to buy it.

“The process has been long and arduous — you can understand, as a business goes into liquidation or receivership there’s not much left in it,” Chambers tells SmartCompany.

Apple stops showing 32-bit iOS apps in your search results

  Apple stops showing 32-bit iOS apps in your search results Apple has been nudging iOS app developers toward 64-bit code for years: it started by requiring 64-bit support, then told users that 32-bit apps might run poorly, and lately has been warning that 32-bit apps wouldn't work in "future versions of iOS." Many suspect that iOS 11, likely to be unveiled at WWDC on June 5th, will be 64-bit only. If all those 32-bit apps are going to stop working when iOS 11 ships in a few months, why let new users download them? This is also a final warning for app writers: move to 64-bit code now or you'll be left in the dust.

Owner of Newcastle ' s oldest independent hardware store Toolies opens up about the ' heartbreaking ' closure of a business locals loved - SmartCompany.

Established in 1973, Toolies Tool Specialists is Newcastle ’ s oldest independent tool speciality retailer. But changes within the tool industry and increasing costs and expenses led us to make the heartbreaking decision to close our store in Sandgate at the end of June 2017.

“But I had to try to rescue it, it really is an iconic business in Newcastle.”

The decision bought Toolies another four years serving the region’s locals — and customers from around the country who’ve made purchases from the Toolies online store — and Chambers says establishing a relationship with the inventive people in his community has been a true joy since he got involved with the company 14 years ago.

Just recently he was out on site visiting a customer who had built a “007” style wood-panelled boat, doing some problem solving.

“Like, this guy had built one of those [boats] himself,” Chambers says.

He says one of the big most important differences between independent hardware retailers and the big players is that businesses like Toolies are focused on actually solving a customer’s problem, rather than selling them a solution.

Sydney company ordered to pay $447,300 for underpaying workers but says it will challenge the penalties

  Sydney company ordered to pay $447,300 for underpaying workers but says it will challenge the penalties The Federal Court has handed down penalties of $447,300 and ordered 49 workers be back-paid $223,000 in a case involving a Sydney-based facility management company that the Fair Work Ombudsman has described as one of its most complex litigations to date.However, the company says it intends to challenge the penalties.

The new owner , a businesswoman who owns several Ace Hardware stores , takes over this month. “We’re old ,” Shapiro joked. “I’m 74 and she’ s 73. You should be able to walk out and not need to be An afternoon recap of the day’ s most important business news, delivered weekdays. Sign Up .

We've closed our Sandgate store . Toolies Tool Specialists is now an online only retailer. We're Newcastle ' s Oldest Independent Tool Retailer. And up until July 2017, you would've visited us at 53 Maitland Road, Sandgate.

“I sent a guy home the other day with a way of solving his problem that didn’t involve us selling him anything,” he says.

Toolies is in the process of selling off stock before a June 30 exit date and in the lead-up to closing, Newcastle locals keep popping in to reminisce about the characters who have been involved with the business since it started in 1973.

“They keep coming in and these guys remember all the guys that have ever been in here,” Chambers says.

The business has faced a number of hurdles over the past decade, including being hit hard by the global financial crisis and a sliding coal price, which had a big impact on the Newcastle region. In the years leading up to 2012, the business had annual turnover of more than $8 million and 15,000 ‘loyalty customers’ on the books.

Chambers says a key lesson he’s learned through the process of trying to save Toolies is that you need a significant amount of try to turn around a business.

Could Target Country stores be re-badged as “Kmart minis”?

  Could Target Country stores be re-badged as “Kmart minis”? The number of Kmart and Target stores across Australia is set to shrink as Wesfarmers seeks to review and “rebalance” its department store network and mitigate the losses of the struggling Target brand. In its 2017 strategy day briefing to investors, Wesfarmers declared it is looking to improve its department store “space productivity” by around 20% through closures and renaming of its 521 Target and Kmart stores across the country.

Newcastle ' s oldest independent tool store , Toolies Tool Specialists sells a First up , we want to say THANK YOU to every customer, supplier and friend that supported us during the closure of our store in Sandgate in June.

But many more businesses have continued to crop up in Austin, proving The store space is open and welcoming. Bright hanging lamps of different shapes light up the Poetry readings, novel readings and even open mic events invite a communal atmosphere between local and independent artists.

“The owner prior to me just didn’t have the capacity to weather the storm when it came, because of the level of debt that was being carried. You can’t have a business that just relies on the good times,” he says.

“You need to come into something like this with a lot of capital.”

While Chambers says this has been a “very painful experience”, he has bought the business more time and continued to help customers in a way that no other hardware competitor will now be able to achieve, he believes.

“None of the others … seem to do that. This is a problem, with the rush to sale [from big players] and all that sort of thing,” he says. 

As for what’s next for the business owner, the community has come forward with a few offers so far.

“I’ve been offered a job as an assistant to a beekeeper, so we’ll see how that goes,” Chambers says. 

Whyalla locals seeing 'light at the end of the tunnel' after Arrium preferred bidder decision .
After a year of uncertainty for Whyalla created by its largest employer going into administration, the city's residents can see a light at the end of the tunnel following yesterday's announcement of a preferred bidder for steelmaker Arrium.The iron-ore giant went into administration in April 2016 with more than $4 billion in debts.Cafe owner Alessandro Parisi said Arrium's difficulties created a hard year for businesses and families in the town."We've had to lay people off, bring them back in and lay them off again," he said."The uncertainty of the future didn't help.

—   Share news in the SOC. Networks
This is interesting!