Convenience store giant 7 / 11, which has been caught up in a recent wage scandal, is quietly restructuring its assets.
They have abandoned renewal of some of Melbourne`s underperforming stores and removed them from two stores on Chapel Street.
Two stores, located at 592 Chapel Street and 353 Chapel Street, are now rescheduling through Beller Commercial and Teska Carson.
Clayton Ford, a spokesman for 711, said it was not surprising for the group, which has a nationwide retail convenience store business, to open new stores or close old ones.
He said the closure of the, Chapel Street store was not part of the group`s larger asset restructuring plan.
Industry insiders say they have been forced to adjust wages since 7 / 11 was revealed to have exploited employees` salaries, making some stores less than enough to make ends meet.
Another 7-11 store near Windsor on Chapel Street will be retained.
The 7 / 11 Group, owned by Russ Withers and Bev Barlow, also recently closed its branch at the York Street and Barrack Street junctions in Sydney`s central business district.
Matt Hudson, Cushman&Wakefield `s chief retail leasing representative, said the convenience store business in the heart of Sydney and Melbourne was "saturated."
In the past two years, with the rapid expansion of 7-11, EzyMart and Coles and Woolies stores, convenience stores have flourished in both cities.
