Another Aussie fashion label goes bust
Yet another Australian fashion retailer has bitten the dust, joining the likes of Diana Ferrari, Maggie T, Oroton, and David Lawrence.
After 76 years, men’s fashion chain Roger David has gone into administration, its collapse because of competition from online and international retailers, reports news.com.au.
It is now in the hands of administrators KordaMentha.
“Despite the directors’ best efforts with the business, it simply could not compete with the influx of multinational retailers and the rapid, global evolution of online shopping,” Roger David directors said in a statement yesterday.
“Thank you also to Roger David’s loyal customers who have been on a journey with Roger David since we opened our doors,” said the directors.
“Like you, we are heartbroken but forever grateful to have served generations of your family since 1942.”
KordaMentha administrator Craig Shepard said that, "Roger David, like many other fashion retailers, has been buffeted by global competition, stagnant sales and rising fixed costs," according to The Sydney Morning Herald. "The company has been exploring all options, including a sale of the business, but has been unable to find an alternative to administration."
“The competition in the market, the internationals and in general online, it has just got tougher and tougher."
Roger David had already closed over half of its stores, downsizing from 135 to 57 locations, and the administrators announced that a closing down sale would begin immediately. Shepard said gift cards for the brand would be honoured for a month.
The chain, which employs over 300 staff, is due to operate throughout the Christmas shopping season.