Woolworths has announced it will close 30 Big W stores and two distribution centres over the next three years.

The stores affected have not been named as Woolworths continues negotiations with landlords.

The Monarto distribution centre in South Australia is expected to close in 2021 and the centre at Warwick in Queensland will close in 2023.

Woolworths expects the closures to cost about $370 million and will affect its full-year results.

Woolworths CEO Brad Banducci tells Ross Greenwood closing 30 of its 183 Big W stores would benefit the retail giant.

“The rest of those, the 153 are strong and as we forecast the future we think that they will continue to be strong… and help us drive Big W back into profitability. “

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