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Tarvydas thrown a lifeline
Tarvydas thrown a lifeline

Businessman John Bond has thrown a lifeline to Ruth Tarvydas, offering the WA designer a shop in his Times Square development so she can keep a retail presence in Perth as she tries to rebuild her fashion empire.

Mr Bond said Tarvydas was a "fashion icon" and he expected her outlet to be a drawcard for Claremont and Times Square.

Tarvydas, who had to close her King Street store and call in administrators last month, will pay a percentage of turnover and, after six months, have the option of a normal lease at the Claremont store.

"I read in the paper that Ruth had got into some strife and, having known her in the past, thought I'd ring and see if I could help in any way," Mr Bond said.

"It seemed a good opportunity to see if I could put her into a tenancy in Times Square."

The store, to have a salon feel with a new collection, made-to-order ranges and key exclusives, is intended to be the premier destination for the Tarvydas label.

Tarvydas' company RTI WA owes more than $1 million to ANZ bank and her former King Street landlord. A report to creditors this month showed RTI had just $200 when it collapsed.

It is understood Tarvydas will use another company for the new store and hopes profits from it will clear her debts.

"I'm blown away by the foresight, business savvy and kindness of John," Tarvydas said.

"This will allow us to boost trade and pay our creditors from the King Street store and grow as a brand.

"Times Square is a fitting location to begin the next chapter for our label and far more conducive to running a successful fashion business in the current retail climate.

"The outpouring of love we received from the Perth public and business community when King Street closed was a wonderful acknowledgment of our brand."

Tarvydas is already planning a fully sponsored celebrity opening at Times Square in a joint celebration of the new venture and a planned expansion into foreign markets with Tarvydas Global.