Colette by Colette Hayman will close a QUARTER of all its stores within weeks as Australia’s retail apocalypse plunges another chain into ruin
- Colette by Colette Hayman will lose 33 stores across Australia and New Zealand
- The handbag retailer was placed into administrated at the start of February
- Stores across NSW are expected to shut their doors for good in just three weeks
Colette by Colette Hayman will close a quarter of all its stores within weeks, it was announced on Friday.
The popular handbag retailer was put into administration earlier this month.
Administrators have now confirmed that 33 Australian and New Zealand stores will shut over the next three weeks.
Colette by Colette Hayman will close a quarter of all its stores within weeks, it was announced on Friday
The popular handbag and accessory chain was put into the hands of Vaughan Strawbridge, Sam Marsden and Jason Tracy following its administration.
‘Colette By Colette Hayman has, unfortunately, been impacted by the current weak retail environment, as have many others,’ Mr Strawbridge said at the time.
‘Our focus is on continuing to trade the business while we seek either a recapitalisation of the Group or a sale of the business.’
Stores in Sydney suburbs such as Warriewood, Hornsby Chatswood, Rhodes, Birkenhead and Kotara in Newcastle, are all expected to shut its doors within the next few weeks.
Administrators confirmed that 105 stores were put in the portfolio to be offered for sale.
Mr Strawbridge said staff that were affected would be redeployed.
‘All staff impacted are expected to receive all their wages and entitlements in full,’ he said in a statement.
‘This is never easy and we have regrettably had to make the decision to close 33 stores. We are working closely with the Colette management team to effect the closures quickly while seeking to redeploy staff impacted.’
More to come.