Iconic Australian retailer, Harris Scarfe, has been placed into receivership, joining the list of Aussie stores to shut doors as a result of tough retail conditions.
Deloitte Restructuring Services have been appointed as administrators of the $380 million business, which employs over 1,800 staff across 66 stores across the nation.
Also read: Australian fashion brand Bardot collapses
“Harris Scarfe is a longstanding retail institution,” DRS partner Vaughan Strawbridge said, News.com reported.
“We will be making every effort to secure a future for the business and intend to commence an immediate sale of business process.”
The announcement follows similar news that women’s fashion brand, Bardot, had gone under, joining the growing list of Australian labels buckling from a languishing retail sector.
The brand, which launched in 1996, said despite strong online sales it could not hold up its retail network.
Ed Harry, Topshop, Metalicus, Esprit and Gap have also fallen victim to this ‘retail apocalypse’.
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