Tony Caughey: Smith & Caughey’s chair on the company being saved from 2025 closure

Historic Auckland department store Smith & Caughey’s is living to fight another day. The 144 year old business announced in May it would close next year - but today revealed measures to let it stay open. It will downsize physical trading to the ground floor of its Queen Street store, cut about 100 staff and close the Newmarket branch, and ramp up online operations. Chair Tony Caughey says the reality is fewer people shop in the city and they must adapt. "There'll be different ways of doing things - and I think it will evolve. We won't see the old days of how it was, but we'll see a new, different sort of Queen Street." LISTEN ABOVESee omnystudio.com/listener for privacy information.