- A total of 33 Colette by Colette Hayman stores across Australia and New Zealand will close, administrators from Deloitte announced Friday.
- The handbags and accessories retailer went into voluntary administration in February.
- The full list of stores which will close is below.
- Visit Business Insider Australia’s homepage for more stories.
A quarter of Colette by Colette Hayman stores are set to close, as administrators prepare the beleaguered handbag retailer for sale.
The CBCH group of companies, trading as Colette by Colette Hayman, went into voluntary administration in February, joining a number of other retailers that have collapsed or gone into administration over the past few years.
At the time, freshly appointed Deloitte administrator blamed both poor trading conditions and the collapse of a potential funding deal which would have injected new capital into the business.
In a statement provided to Business Insider Australia, Deloitte restructuring partners Vaughan Strawbridge, Sam Marsden and Jason Tracy confirmed a total of 105 stores would remain in the portfolio as it is packaged up for sale. That means 33 stores across Australia and New Zealand will be closed.
In the statement, Strawbridge said all efforts were being made to redeploy staff to other stores, and that “all … impacted are expected to receive all their wages and entitlements in full.”
“This is never easy and we have regrettably had to make the decision to close 33 stores. We are working closely with the Colette management team to effect the closures quickly while seeking to redeploy staff impacted,” Strawbridge went on to say.
The accessories retailer was founded in 2010 by its namesake, former owner of the Diva jewellery chain Colette Hayman. It has reported yearly gross sales of more than $140 million, selling upwards of three million handbags per year.
The full list of stores facing the axe is below:
- Belconnen ACT
- DFO Birkenhead NSW
- Rhodes Waterside NSW
- Warriewood NSW
- Chatswood NSW
- Hornsby NSW
- Kotara NSW
- New Plymouth NZ
- Albany NZ
- Mackay QLD
- Queen St QLD
- Kawana QLD
- Logan QLD
- Australia Fair QLD
- Mt Ommaney QLD
- DFO Cairns QLD QLD
- Rockhampton QLD
- Noosa QLD QLD
- Coomera QLD
- Rundle Mall SA
- Docklands VIC
- Moonee Ponds VIC
- Bendigo VIC
- DFO Spencer VIC
- Greensborough VIC
- Cranbourne VIC
- Mildura VIC
- Doncaster VIC
- Ocean Keys WA
- Hay Street (Enex) WA
- Belmont WA
- DFO Watertown WA
- Mandurah Forum WA
- Hold tight to your handbags: Colette by Colette Hayman has gone into administration, and 140 stores are at risk
- A look back at the Aussie retailers which have collapsed or gone into administration over the past few years
- Jeanswest has just gone into administration, becoming the latest casualty in Australia’s retail recession and putting 1000 jobs at risk
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