- Menswear retailer Roger David has gone into voluntary administration.
- The company says it couldn’t compete with multinational retailers and online shopping.
- Bricks and mortar retailers in Australia have been hit by weak consumer confidence and increasing competition from digital players.
Roger David, Australia’s third largest Australian menswear retailer, has succumbed to the retail crunch and increasing competition online.
The company says it is “heartbroken” that it has gone into voluntary administration.
The 76-year-old company says it couldn’t compete with global retailers operating in Australia and with digital sites.
“Today marks a sad day in the long history of Roger David menswear and for Australian retail,” the company said.
“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.”
The 57 stores, with 300 staff, will continue to trade under administrators Craig Shepard and Leanne Chesser of KordaMentha.
Bricks and mortar retailers in Australia have been hit by weak consumer confidence and increasing competition from digital players.
The latest move to administration follows a string of clothing companies going under in Australia, including Marcs, Pumpkin Patch and Payless Shoes.
The administrators will start a national closing down sale immediately to clear stock and raise as much money as possible for employees and other creditors.
“Roger David, like many other fashion retailers, has been buffeted by global competition, stagnant sales and rising fixed costs,” says Craig Shepard.
“The company has been exploring all options, including a sale of the business, but has been unable to find an alternative to administration.”
At its peak, Roger David had more than 100 stores, selling suits, other fashion and accessories under the Roger David and RDX brands.
Gift cards will be honoured for one month to encourage support from customers for the closing down sale. Stock will be marked down to clear.
Timing of store closures will be announced later. The first meeting of creditors will be held on October 30.
“Thank you also to Roger David’s loyal customers who have been on a journey with Roger David since we opened our doors,” Roger David directors said in their statement.
“Like you, we are heartbroken but forever grateful to have served generations of your family since 1942.”
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