Just a week after the competition watchdog started legal action against Coles and Woolworths, the federal government is targeting their undeveloped supermarket sites.
More than 150 undeveloped supermarket sites held by Coles and Woolworths will be targeted for release to possible competitors as federal and state governments ramp up efforts to put downward pressure on food and grocery prices.
Coles and Woolworths have interest in more 150 potential supermarket sites. They face government action to enable competitors to develop their own sites.The ACCC will receive $30 million in extra financing so it can undertake more investigations and enforcement action in the supermarket and retail sectors. The new funding will help it to monitor prices and investigate pricing practices.
It found Woolworths had interests in 110 potential supermarket sites and Coles had interests in 42 sites. By contrast, Aldi had just 13.The competition watchdog said it would also consider the role of planning and zoning laws, which it said may slow supermarket retailers’ ability to develop new stores by creating additional costs or adding significant delays.
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