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Solly Lew ups pressure on Myer ahead of AGM

Directors of department store chain, Myer, are bracing for another stoush at its November 30 annual general meeting after dissident shareholder Solomon Lew requested an update of the retailer’s share registry.

Mr Lew’s listed retail vehicle Premier Investments – Myer’s largest shareholder with an 11 per cent stake – received a copy of the register in February, but now wants an update, as he continues to wage war on the business he once presided over.

Chairman of Premier Investments, Solomon Lew.

Chairman of Premier Investments, Solomon Lew.

Photo: Jesse Marlow

Mr Lew has been waging war against the company for more than a year in a campaign to have his own own directors appointed to the board.

He renewed his attack on the department store chain after the retail revealed an almost half-billion dollar loss for the 2018 financial year in September.

Myer reported a net loss of $486 million compared to an $11.9 million profit a year earlier, driven by falling sales and a $515 million writedown to the value of Myer’s goodwill and brand name.

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