January 23, 2021

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Dozens of fashion chain’s stores to shut as retail crisis deepens

2 min read
<p>Administrators are cutting unprofitable stores in an effort to entice a buyer into purchasing the entire group.</p>

A quarter of all Colette by Colette Hayman stores across Australia and New Zealand will close as administrators desperately re-structure the business in an effort to find a buyer.

The women's fashion and bag retailer collapsed into voluntary administration two and a half weeks ago, placing 300 jobs at risk.

Today Deloitte Restructuring Services partners Vaughan Strawbridge, Sam Marsden and Jason Tracy announced they will close 33 stores over the next three weeks.

FULL LIST OF COLETTE BY COLETTE HAYMAN STORE CLOSURES BELOW

A total of 105 stores across Australia and New Zealand will remain open and the administrators are currently working on re-deploying affected staff into the existing stores.

"All staff impacted are expected to receive all their wages and entitlements in full," said administrator Vaughan Strawbridge.

"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."

Each of the 33 stores that are closing were not profitable and the administrators believe the remaining outlets will help to entice a buyer.

Founded in 2010, Colette by Colette Hayman operates 140 stores across Australia and New Zealand and employs approximately 300 staff.

Victims of Australia's retail crisis

The business boasted annual gross sales of over $140 million, but was forced to close due to a weak retail environment and a lacklustre Christmas buying period.

The collapse of Colette by Colette Hayman is the latest in a string of high-profile retail companies struggling to compete with low consumer spending and a dramatic move to online shopping.

Three weeks ago denim retailer Jeanswest collapsed, placing almost 1000 jobs at risk. Other noted causalities of the sector include women's fashion retailer Bardot, department store Harris Scarfe, Melbourne icon Dimmeys and beauty retailer Napoleon Perdis.

Colette by Colette Hayman stores to close:

No.

Store Name

State

1

Belconnen

ACT

2

DFO Birkenhead

NSW

3

Rhodes Waterside

NSW

4

Warriewood

NSW

5

Chatswood

NSW

6

Hornsby

NSW

7

Kotara

NSW

8

New Plymouth

NZ

9

Albany

NZ

10

Mackay

QLD

11

Queen St

QLD

12

Kawana

QLD

13

Logan

QLD

14

Australia Fair

QLD

15

Mt Ommaney

QLD

16

DFO Cairns Qld

QLD

17

Rockhampton

QLD

18

Noosa QLD

QLD

19

Commera

QLD

20

Rundle Mall

SA

21

Docklands

VIC

22

Moonee Ponds

VIC

23

Bendigo

VIC

24

DFO Spencer

VIC

25

Greensborough

VIC

26

Cranbourne

VIC

27

Mildura

VIC

28

Doncaster

VIC

29

Ocean Keys

WA

30

Hay Street (Enex)

WA

31

Belmont

WA

32

DFO Watertown

WA

33

Mandurah Forum

WA

Source: 9News https://www.9news.com.au/national/colette-by-colette-hayman-33-stores-to-close-as-business-looks-for-a-buyer/0e8eb77e-6f48-4202-8fe8-358202a463ca

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