One of Australia’s longest-running retailers has entered voluntary administration and will slash its store portfolio.

Founded in Perth in 1892, family-owned Betts has been passed down through five generations. At its peak, Betts operated nearly 220 stores; the restructuring process under voluntary administration will see the closure of 20 of its remaining 35 outlets.

Lindsay Bainbridge of Pitcher Partners Melbourne has been appointed to oversee the restructuring of the business. He said that the affected stores are unprofitable, and added that slumps in consumer sentiment, joined by higher fuel prices and business costs, meant that keeping them open was untenable.

“Australians grew up with Betts shoes, they know and love the brand, and we believe it has a strong outlook as a more streamlined operation,” Bainbridge said. 

“But the retail conditions and falling foot traffic in a lot of centres just are not sustainable for the business. We will close some stores, focus on strengthening others, and continue the company’s plans to expand retail online.” 

Heavy sales are expected to begin later this week across the full range of Betts’ products.

“If you missed end-of-financial-year sales, don’t despair because we have upwards of 120,000 pairs of shoes, bags and accessories that will go on sale as we close some of the Betts outlets,” Bainbridge added. 

“Customers can check stock online, but the best deals will be in the stores flagged for closure, where we will be running out stock at great prices.” 

Seven out of 11 stores in Western Australia will close, four will close in both New South Wales and Victoria, three in South Australia, one in the Northern Territory, and one in Queensland.

Bainbridge said the family had told the staff of the news and is making “all efforts” to support team members in the affected stores.

“Our goal is to make sure we can drive sales and revive interest in a brand that has been part of almost every Australian’s story,” he added. “Betts has been a staple for 134 years, and we want a result that ensures the brand can thrive for many years to come.”

The full list of closures, as confirmed by the administrators, is below:

Western Australia

• Betts Hay Street (Hay Street Mall)
• Betts Gateway (Cockburn Gateway)
• Betts Mandurah (Mandurah Forum)
• Betts Brand Direct WA (Watertown Brand Outlet West Perth)
• Betts Brand Direct DFO Perth (Perth Airport)
• Betts Whitfords (Whitford City) (closing imminently)
• One of two Betts Joondalup stores (closing imminently)

South Australia

• Betts Modbury (Westfield Tea Tree Plaza)
• Betts West Lakes (Westfield West Lakes)
• Betts Marion (Westfield Marion)

Northern Territory

• Betts Casuarina (Casuarina Square)

New South Wales

• Betts Macquarie (Macquarie Centre North Ryde)
• Betts Liverpool (Westfield Liverpool)
• Betts Rouse Hill (Rouse Hill Town Centre)
• Betts Kotara (Westfield Kotara)

Victoria

• Betts Greensborough (Greensborough Plaza – will close imminently)
• Betts Ringwood (Eastland Shopping Centre)
• Betts Doncaster (Westfield Doncaster)
• Betts Fountain Gate (Westfield Fountain Gate)

Queensland

• Betts Indooroopilly (Indooroopilly Shopping Centre)