Just under a month after the closure of 13 Australian stores was announced, administrator Rodgers Reidy is to close all of the troubled labels’ 10 New Zealand outlets as well.
The businesses were placed into voluntary administration on February 2 by the Sydney-based owner of fashion labels Marcs and David Lawrence, trading in New Zealand as M. Webster Holdings. The factors cited included deteriorating sales, “general market conditions” and poor cash flow.
The permanent closures in New Zealand will remove Marcs and David Lawrence from the Kiwi market as retailers, and will affect 11 full-time staff, 22 part-timers and 11 casual workers.
In a statement, administrator and director of Rodgers Reidy, Andrew Barnden, said:
“Both brands have been operating in New Zealand for more than 10 years. As administrators, we have an obligation to restructure the operations of the Australian and New Zealand businesses while we attempt to sell the business as a going concern.”
“Whilst the stores are permanently closing, New Zealanders will have a great opportunity to purchase quality apparel at discounted prices. We hope loyal customers take advantage of this final opportunity to buy great product from these iconic brands”.
The stores will be discounting stock from today onwards, and will close progressively over the next few months. Store credits and gift vouchers will be redeemed in full only if spent before March 31 and on condition of purchasing an equal amount of goods in-store.
Barnden says 177 Marcs and David Lawrence stores continue to trade. Prior to the closures, the labels collectively operated 52 standalone stores, 11 outlets and more than 140 concession stores operating across Australia and New Zealand.
“Marcs and David Lawrence stores in Australia will continue to trade in Australia until further notice while the administrators are dealing with interested parties,” Barnden says.