Australian brand Colette from Colette Hayman closes for good after a long financial battle
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The famous Australian brand Colette by Colette Hayman closes its doors for good, after years of financial struggles.
From Thursday, retail stores were seen throughout Australia while monitoring clearance sales, with discounts from 60 to 80 percent on all elements.
I read a mark outside the Colette store in Westfield Tea Tree Plaza in southern Australia on Thursday: “The last day of trade. 60-80 %. Everything should go!”
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Some employees, who want to not reveal their identity, confirmed 7News.com.au that the company was closing.
The employees were informed on Thursday, when some stores are expected to remain open until the remaining shares are cleared.
One of the employees said they were told that the company had entered the volunteer management.
The fashion brand was a turbulent journey, after it was rescued from the administration for the second time in June last year.
The administration first entered the year 2020 before it was purchased by the former CEO of Bir Bernie Brooks.
As a result, more than 100 stores have been closed around Australia and New Zealand.
Brooks later formed the Marquee Retail Group collection, which also acquired the edited leather accessories.
However, in April 2024, the group announced that it had entered the volunteer administration and failed to save both signs from collapse.
After a two -month management process, 40 stores were rescued by restructuring.
The company said at the time that more than 400 jobs were saved.
7News.com.au COLETTE called to comment.
