Family-owned retailer on brink of collapse after “catastrophic” Christmas and summer.
Handbag brand appointed voluntary administrators on Tuesday.
Eighty per cent of stores to be culled by March 1.
National retailer to close 10 stores in a month as part of business restructure.
Perdis to act as creative director moving forward.
Lack of interest from the market leaves menswear retailer no choice but to close.
Buyers take a second look in light of customer support.
Third-largest specialty men’s fashion retailer to close.
More than half of the stores operated by the Australian arm of the international brand will close.
Administrators are assessing a possible sale or recapitalisation.