Masters, designed to compete in the $42 billion home improvement market dominated by Wesfarmers owned Bunnings, has been struggling, losing $139 million in 2013.
Analysts expect Masters to post even greater losses in the 2014 and 2015 financial years.
In February Woolworths appointed European-hardware industry veteran Matt Tyson to turn around Masters’ fortunes. Masters has 47 stores in Australia.
