Ally Vogue: Main Australian fast fashion | Australian Markets
A cash-strapped Australian fast-fashion retailer has all of a sudden closed scores of its shops throughout the nation, placing 250 employees out of work.
Ally Vogue Pty Ltd was pressured to right away shutter 51 of its 160 shops on Thursday after liquidators appointed by the Federal Courtroom on February 28 urgently assessed the company’s dire financial scenario.
The Australian-owned company was established in 2001, with 160 shops throughout Australia and an online store.
Liquidators Jeff Marsden and Duncan Clubb of BDO Australia had been referred to as in after an utility by a landlord for rent arrears.
“Following an urgent assessment of the business by the Liquidators, we have ceased operating 51 retail stores to improve the financial viability of the Company,” a BDO assertion learn.
“In addition, we are pleased to advise that we have entered into a licence agreement with a related entity of the Director, David Dai, to continue to operate the remaining stores.”
Liquidator Jeff Marsden mentioned Ally Vogue is a well-known Australian model, with a devoted staff.
“The closure of underperforming stores and entering into a licence agreement will allow the business to continue operating in the short term whilst we urgently explore options to restructure, recapitalise or sell the business.”
STORE CLOSURES
NSW: 11
Qld: 19
SA: 7
Vic: 8
WA: 6
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