Roger David set to close all 57 of its stores
Headwinds within Australia’s retail clothing sector have claimed another victim, with 76-year-old menswear brand Roger David set to close all 57 of its stores.
Administrators today announced that a four-week process to find a new owner for the iconic Aussie fashion and accessories retailer had been unsuccessful, with the stores now just weeks away from shutting their doors for good.
The business was placed into voluntary administration on October 18.
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Craig Shepard of KordaMentha Restructuring says while potential buyers emerged during the sale process, but none felt the chain could be sustained.
“Everyone recognised the strength and the affection for the brand, but it did not pass the viability test,” he Shepard says.
“Roger David was a victim of rising fixed costs, fierce competition from online and global competitors and cautious consumer demand.”
All remaining Roger David stock is now being moved into stores, with huge discounts expected until the company’s last day of trading in mid-December.
“Discounts of 60% or more will continue until the last day,” Shepard says.
“The employees and customers have been remarkable in the past four weeks to help provide the company with cash flow to help pay entitlements and creditors.”
Roger David currently has 300 full-time employees, as well as 200 part-time or casual staff.
The brand has 19 stores in Victoria, 15 stores in Queensland, 12 stores in NSW, seven stores in Western Australia, two stores in South Australia, two stores in Tasmania and one store in Canberra.
