New Zealand stores from Marcs and David Lawrence to close

  • News
  • March 10, 2017
  • Sarah Dunn
New Zealand stores from Marcs and David Lawrence to close

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.

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Retail start-ups you should know: SeekStock

  • News
  • March 29, 2017
  • Sarah Dunn
Retail start-ups you should know: SeekStock

When it comes to shopping, young people have expectations that retailers are struggling to understand, let alone fulfill. Technology is a big part of that, and mobile, in particular, is where it’s at. We spoke to the Millennial founders of two Kiwi start-ups which are set to make an impact on the retail industry during 2017. First up: SeekStock.

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Tributes after tragic passing of Farmers chief executive Rod McDermott

  • Who's Where
  • March 28, 2017
  • Sarah Dunn
Tributes after tragic passing of Farmers chief executive Rod McDermott

The man who guided Farmers through its 100th anniversary, the launch of its phenomenally successful club card network and its new Auckland flagship, among other seismic changes, has been tragically killed in a car accident. Rod McDermott spent 25 years with Farmers and a decade as its CEO before stepping down at the end of 2016.

Read more
 
 
 
 
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