A total of 33 Colette by Colette Hayman stores are set to close, after the retailer went into administration in February
A total of 33 Colette by Colette Hayman stores across Australia and New Zealand will close, administrators from Deloitte announced Friday.
The handbags and accessories retailer went into voluntary administration in February.
The full list of stores which will close is below.
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A quarter of Colette by Colette Hayman stores are set to close, as administrators prepare the beleaguered handbag retailer for sale.
The CBCH group of companies, trading as Colette by Colette Hayman, went into voluntary administration in February, joining a number of other retailers that have collapsed or gone into administration over the past few years.
At the time, freshly appointed Deloitte administrator blamed both poor trading conditions and the collapse of a potential funding deal which would have injected new capital into the business.
In a statement provided to Business Insider Australia, Deloitte restructuring partners Vaughan Strawbridge, Sam Marsden and Jason Tracy confirmed a total of 105 stores would remain in the portfolio as it is packaged up for sale. That means 33 stores across Australia and New Zealand will be closed.
In the statement, Strawbridge said all efforts were being made to redeploy staff to other stores, and that “all ... impacted are expected to receive all their wages and entitlements in full."
“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,” Strawbridge went on to say.
The accessories retailer was founded in 2010 by its namesake, former owner of the Diva jewellery chain Colette Hayman. It has reported yearly gross sales of more than $140 million, selling upwards of three million handbags per year.
The full list of stores facing the axe is below:
Belconnen ACT
DFO Birkenhead NSW
Rhodes Waterside NSW
Warriewood NSW
Chatswood NSW
Hornsby NSW
Kotara NSW
New Plymouth NZ
Albany NZ
Mackay QLD
Queen St QLD
Kawana QLD
Logan QLD
Australia Fair QLD
Mt Ommaney QLD
DFO Cairns QLD QLD
Rockhampton QLD
Noosa QLD QLD
Coomera QLD
Rundle Mall SA
Docklands VIC
Moonee Ponds VIC
Bendigo VIC
DFO Spencer VIC
Greensborough VIC
Cranbourne VIC
Mildura VIC
Doncaster VIC
Ocean Keys WA
Hay Street (Enex) WA
Belmont WA
DFO Watertown WA
Mandurah Forum WA
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