MENSWEAR retailer Roger David – which has a store in Bendigo Marketplace – has entered voluntary administration, with the timing of store closures to be determined in the coming months.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Company directors blamed the influx of multinational retailers for the chain’s struggles in recent years.
In a statement, directors said closing down sales will be held in the Christmas period, under the watch of administrators KordaMentha.
“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 statement reads.
Roger David employs more than 300 staff across 57 stores.
Administrator Craig Shepard, of KordaMentha, said the national closing down sales would raise money for employees and other creditors.
“Roger David, like many other fashion retailers, has been buffeted by global competition, stagnant sales and rising fixed costs”, Mr Shepard said.
“The company has been exploring all options, including a sale of the business, but has been unable to find an alternative to administration.”
Established in 1942, Roger David once boasted more than 100 stores nationwide.
Gift cards will be honoured in full for one month.
The first meeting of creditors will be held on October 30. Timing of store closures will be announced at a later date.
Have you signed up to the Bendigo Advertiser's daily newsletter and breaking news emails? You can register below and make sure you are up to date with everything that's happening in central Victoria.
