Wharf Street Businesses in Forster Face Closures Due to Rising Costs
1 report, 1 independent
Updated Oct 23
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What happened
Six shops on Wharf Street in Forster have closed since Christmas. The closures are driven by a combination of rising costs of doing business and customers tightening their budgets due to climbing interest rates and grocery bills. The rising expenses include wages, electricity, stock, and hidden costs.
Why it matters
The increasing cost of operations is making it difficult for local retailers to remain viable. This financial pressure is compounded by a noticeable shift in local shopping habits, causing the precinct to lose foot traffic.
Who's involved
- Amanda HurleyLong-time business owner at Coasting Home on Wharf Street
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The entities involved
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Forster
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