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lernors department store in Melbourne’s north-east, which specializes in German and German-made items, closed its doors after nearly 50 years of operation.
Lerners is one of the oldest department stores in Melbourne.
A spokeswoman for the company, which has been in operation since the 1970s, said the business had become too profitable to continue.
“It was the right time to close and I’m glad we’ve been able to make a decision in the right direction, said Joanna Stolz, spokeswoman for Lerners.
The store is now being redeveloped by a different developer, and Stolzen said the shop’s closure was “not a reflection of the brand”.
Larger department stores have seen a rise in competition, and some are opening in the inner city, where lerns department store is located.
Victoria’s premier, Daniel Andrews, said on Wednesday the state would “look to take the lead in the future in attracting more people to our big cities” and would “ensure that we provide quality, affordable housing, and support a high quality of life”.
Earlier this month, Lerns was among the companies that agreed to buy a 40 per cent stake in a property in Melbourne for $10.4 million.