Australian retail is continuing to languish, with yet another fashion retailer falling into administration, just weeks out from Christmas.
Year 2017 has been a year of failures and near misses for local retailers: Marcs, Herringbone, Rhodes & Beckett and Topshop Australia are among high-profile brands to have hit the wall, on the back of the collapse of Dick Smith Electronics and Masters a year earlier.
And while some smaller brands have been saved from the history books, others have not been so lucky.
Now it has been announced that womenswear retailer Lover Clothing has also entered voluntary administration.
Ferrier Hodgson released a brief statement in late November that said it had been appointed as Lover’s administrators, and immediately called for expressions of interest as a possible sale is explored while the business continues to trade as normal.
“Lover is an iconic and well-established fashion brand that represents a unique opportunity for interested parties,” Ferrier Hodgson partner Morgan Kelly said.
“We plan to work closely with Lover’s management team to find an acquirer for this popular brand.”
According to its website, Lover was founded in 2001, and began as a stall at Bondi Markets. It currently has two Sydney stores as well as an active online store.
Lover was contacted for comment, but a spokesperson would not comment beyond Ferrier Hodgson’s original statement. At the time of writing, there was no statement about the company’s position posted on the Lover website.
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.
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