Wesfarmers bids to revive Coles

MELBOURNE: Wesfarmers began an overhaul of the "poorly performing" Coles supermarket chain this week following its AU$20bn (£8.5bn) takeover of the business last Friday. The revamp would go ahead even though the company was currently without a chief executive, said Wesfarmers MD Richard Goyder. He added that the turnaround could take five years, but insisted the chain would be returned to its "glory days". Wesfarmers planned to do this by streamlining decision-making and stamping out bureaucracy. It would also overhaul the supermarket's fresh food offer and do away with Coles' tendency to offer a large range of the same product .