![Gunns to sell Mitre 10s to cut debt Gunns to sell Mitre 10s to cut debt](/images/transform/v1/crop/frm/silverstone-agfeed/733520.jpg/r0_0_400_268_w1200_h678_fmax.jpg)
Gunns to sell Mitre 10s to cut debt
EMBATTLED forestry group Gunns plans to sell eight Mitre 10 hardware stores to cut debt.
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The Australian Financial Review reports Woolworths and Bunnings are contenders to buy the Mitre 10 outlets, according to a source.
Besides owning one of Australia's largest collection of forests, Gunns operates hardware and building supply stores in Tasmania and two specialist timber stores, with wholesale timber outlets in most capital cities.
The sale has been announced as the company comes under pressure from shareholders following a slump in earnings and its shares.