Stories about retailers shutting down or selling are becoming increasingly more common in the news. So, what are the primary causes of retail failure?
Leading Australian eCommerce retailer, Catch Group, has successfully bought Pumpkin Patch with plans to relaunch the brand online.
The receivers of embattled retailer Pumpkin Patch have announced more of its New Zealand and Australian stores will be shut down. A further 68 stores will be closed, including two earthquake damaged stores in the South Island that won't be reopening.
Layoffs have begun at Pumpkin Patch after no buyer has emerged. The struggling childrenswear company appointed administrators and entered receivership in October, and confirmed this week that the search for a buyer has met its end.
After the closure of seven stores in New Zealand, Pumpkin Patch’s receivers have announced they’re going to close 27 stores across the Tasman. KordaMentha receivers said the decision to shut down the stores was made to stabilise the wider business and improve the prospects of the chain finding a buyer. Plus: we look at the most likely buyers for the chain.