Thirteen Shanton stores will re-open today and tomorrow with a new look and a new owner. The struggling womenswear chain went into voluntary administration in January, owing $7.8 million to 206 creditors.
Receivers for struggling women’s clothing chain Identity have announced they are unable to find a buyer for the business, so it will have to shut down. They said the closure reflected the current difficult trading conditions in the retail clothing industry, as shown by the struggles of Jean Jones, Shanton and Postie+.
After more than six months of trouble and uncertainty, a mystery buyer has scooped up womenswear chain Shanton Fashions. Liquidator Gareth Hoole declined to reveal the identity of the buyer, but confirmed that they were based in New Zealand. He told The Register that there would likely be publicity around a rebranding of Shanton, if the buyer chose to go down that path.
After months of uncertainty, New Zealand womenswear label Shanton Fashions has finally tipped into liquidation. It is to be listed for sale as a going concern and if this is unsuccessful, its assets will go in a forced sale.
The executive chairman of property, design and research specialist agency RCG, Paul Keane, explores what retailers can learn from the Greek economic crisis.