Bardot falls into voluntary administration
29 November 2019, Written by Business News Australia
Another beloved Australian retailer has fallen into voluntary administration.
This time it is women's fashion retailer Bardot, whose collapse was quietly announced by administrators KPMG last night.
In a short statement, KPMG says they the business continues to trade as usual while turnaround and recapitalisation opportunities are assessed.
Bardot currently operates 72 stores in Australia and employs around 800 staff.
The collapse into voluntary administration follows similar retail collapses in Australia and globally.
The Australian arm of UK fashion house Karen Millen fell into administration in September this year.
It followed the collapse of its UK parent, spelling the end for the Australian business at the time.
The UK parent was sold to online retailer Boohoo for £18.2 million in August soon after it went into administration.
The parts of custom-order footwear business Shoes of Prey were also recently put up for sale.
John Park and Kelly-Anne Trenfield of FTI Consulting were appointed liquidators of Shoes of Prey in March this year, some seven months after orders had been put on hold in August 2018 as the company failed to meet expectations.
The announcement brought an end to a 10-year legacy for an idea that attracted investments from US department store Nordstrom and Blue Sky Alternative Investments (ASX: BLA), itself now under administration.
Business News Australia
Author: Business News Australia