BREAKING NEWS Woolworths to close major online retailer at a cost of $100million - what you need to know
The marketplace, which offers a wide range of home and lifestyle products, was founded by entrepreneur Sean Senvirtne in 2011.
It was acquired by the Woolworths Group in September 2022.
Woolworths Group chief executive Amanda Bardwell said the decision to close MyDeal had been made following a strategic review into its profitability.
'MyDeal has brought marketplace expertise and leading technology to the Group's marketplace platform, Woolworths MarketPlus, enabling rapid GMV growth,' she said.
'However, given the intensely competitive environment and the superior economics of marketplaces integrated into retail brands, we have made the decision to close the MyDeal customer website.'
More to come.
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