Myer has announced a disastrous  $476-million loss.

Garry Hounsell, Executive Chairman of Myer said, “it’s quite clear that we failed to respond appropriately to the aggressive pricing by competitors”.

Solomon Lew says the record first-half loss, which has forced the retail giant to suspend dividends, is evidence the board needs to be ousted.

Ross Greenwood speaks with Head of Retail Michael Bate from Colliers International.

Listen to the full interview below