Fashion brand G-Star Raw collapses in Australia after struggling to find a new buyer – leaving 200 without a job as 57 stores are closed forever
- G-Star Raw clothing chain collapses leaving 200 Australian workers out of job
- The denim clothing label went into administration in May due to the pandemic
- The retailer joins a long list of clothing brands forced to shut their doors in 2020
Clothing brand G-Star Raw Australia has collapsed after failing to find a buyer.
The Dutch-owned retail chain went into administration in May as a result of the coronavirus crisis and the subsequent downturn in sales which was exacerbated by government-ordered lockdowns.
About 200 Australian workers at the denim giant’s 57 stores will now be out of a job.
Pictured: A model wearing G-Star clothing. The Dutch-owned denim giant has now closed its doors in Australia
The brand – which had 57 stores in Australia – made its name in raw denim and specialised in unwashed, untreated denim as its base material
Justin Walsh, Sam Freeman and Stewart McCallum of EY were appointed as Voluntary Administrators of G-Star Australia Pty Ltd (the “Company”) on 15 May 2020,’ Ernst & Young said in a statement.
‘Despite an extensive marketing program no buyer was identified for Company’s business.
‘As a consequence, all of the Company’s stores have now been closed.’
The brand has flagship stores across the world including in New York, Paris and London.
Global superstars including Pharrell Williams and Jaden Smith have worked with the brand – which specialises in unwashed, untreated, raw denim as its base material.
It follows dozens of Australian brand names entering administration since the start of 2020.
Even before the lockdown impact was felt, swimwear label Tiger Lilly, accessories retailer Collette, and stationery chain Kikki K were all placed into administration.
Harris Scarfe, Bardot, Roger David, and Napoleon Perdis have also dropped like flies in the past year – resulting in heavy job losses.
German supermarket chain Kaufland meanwhile pulled out of Australia this year, despite investing in a multi-million dollar Australian property empire in a bid to compete with Coles and Woolworths.
Australian chains are meanwhile considering shutting down stores as online sales skyrocket during the coronavirus lockdown.
G-star first launched in 1989 with raw denim jeans that have not been washed or treated.
The brand has flagship stores across the world including in New York, Paris and London