The administrators for the Colette by Colette Hayman group of companies have revealed plans to close loss-making 33 stores across Australian and New Zealand over the next three weeks (see full list below).
The move will shrink the handbag, accessories and jewellery brand’s store network by a quarter, and make it easier to recapitalise or sell, according to Vaughan Strawbridge, Sam Marsden and Jason Tracy from Deloitte Restructuring Services.
“We are working closely with the Colette management team to effect the closures quickly while seeking to redeploy staff impacted,” Strawbridge said in a statement.
All staff impacted are expected to receive all their wages and entitlements in full, he added.
The announcement comes in final days before expressions of interest to acquire the business are due early next week.
The administrators have continued to trade the business since their appointment in early February, and have seen a good response from customers and staff. They have also gained strong interest from parties interested in buying the business, they said.
Here are the 33 stores that are set to close over the next three weeks:
- 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
