Herringbone, Rhodes & Beckett shutter seven stores

By

Benjamin Fitzgerald

Published
Feb 15, 2017

After announcing the Australian fashion retailers would be enter administration this month, the advisory firm managing the procedure revealed Herringbone and Rhodes & Beckett have begun to close underperforming stores, in a bid to appear more attractive to suitors.

Three Herringbone stores and four Rhodes and Beckett stores closed a week after advisory firm Cor Cordis was called in, with ten jobs being lost in Perth - where neither brand now has a store, reported Sky News.

Despite the closures, administrators from Cor Cordis said a sale of the business, majority-owned by German-based van Laack, is still being pursued.

"As we seek to find a buyer for the businesses, it's important to limit ongoing losses. The closure of these stores is a difficult step but it is integral to the continued presence of these brands in the Australian market,' Bruno Secatore, managing partner of administrator Cor Cordis, said on Monday. 

The underperforming Herringbone stores were in Perth, Melbourne and Chatswood, in Sydney's north.