Bad news for shoppers.....Costco won't be opening at Boolaroo.
There's been talk for a couple of years about the retail giant possibly opening a store at Boolaroo, however the Newcastle Herald reports Costco has walked away from the table.
The main sticking point is a dispute over the subdivision of land on the former Pasminco smelter site.
But it's not all bad news - a Costco spokesperson says they're looking for other potential store locations.
As for Ikea heading to Boolaroo, Lake Macquarie mayor Kay Fraser says talks are continuing.
"Obviously we're really keen to see them come to Lake Macquarie and we're doing everything in our power to make that happen," she said.
"It's in the hands of the Department of Planning and the administrator Ferrier Hodgson, so hopefully that will resolved fairly soon."