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Myer confirms Top Ryde City shopping centre in Sydney to close

Department store chain Myer says it will continue to explore new store formats despite biting the bullet and closing three speciality stores that sold only Myer’s exclusive men’s, women’s and children’s wear brands.

Myer chief executive Richard Umbers also confirmed on Monday that the retailer would close its four-year old large-format store in the Top Ryde City shopping centre in Sydney – as flagged by The Australian Financial Review last month – taking advantage of a AUD40 million redevelopment of the centre to exit without incurring massive costs.

The Top Ryde City store, which was one of the first new department stores opened by Myer after its AUD2.3 billion float in 2009, will close in less than two months with the loss of as many as 70 jobs.