Cost of Living

Woolworths CEO Denies Land Hoarding Accusations

‘We did not hold any site without a plan to develop it. That would not give us the right return on investment,’ said Woolworths CEO.
Woolworths CEO Denies Land Hoarding Accusations
People queuing at Woolworths in Adelaide, Australia, on Nov. 18, 2020. Kelly Barnes/Getty Images
Alfred Bui
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Woolworths CEO Brad Banducci has stated that the supermarket giant did not engage in land hoarding amid allegations that it used unfair business practices to eliminate competition.

This comes after food wholesaler Metcash CEO Grant Ramage alleged that Woolworths and its rival, Coles, were trying to buy out and purchase the property of independent stores and supermarkets to force them out of business.
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].