AUSTRALIA: Fletcher Jones administrators to close 15 stores
Administrators for iconic Australian retailer Fletcher Jones have revealed plans to close one-third of its stores ahead of plans to sell the business as a going concern.
Administrator Cor Cordis said yesterday (14 November) that it will close 15 stores and that around 61 staff in these shops and the head office have been made redundant. The remaining 30 stores will continue to trade as normal.
"As administrators it was important that we acted quickly to shore up the viability of Fletcher Jones to make it an attractive acquisition so it can keep trading," said administrator Bruno Secatore.
Staff were notified of the moves yesterday and Secatore said the stores were selected "on the basis of trading performance over a period of time".
He said that administrators have experienced a "better than expected response" to the sale of the company, with a "number of interested parties coming forward". With offers due on 23 December, Secatore expects to have a "more conclusive picture about the future of the brand" early in the new year.
- Steps to piloting living wage in garment factories
- How to ensure sustainability is more than a slogan
- Trump blows the case for Brexit out of the water
- US apparel retailers' November 2016 sales roundup
- Duty-free trade key to build Africa supply chains
- US Q3 in brief – Sears, Vince Holding, Genesco
- Esquel efficiency drive continues to boost brands
- Taiwan textile maker investing in first US plant
- Outdoor apparel sector set for double-digit growth
- Myanmar garment industry "lacking labour rights"