MENSWEAR retailer Ed Harry will be wound down after failing to find a buyer, leaving six Bendigo employees without jobs.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
The company employs 84 staff in Victoria and 498 people, nationwide.
All 87 Ed Harry stores are expected to close their doors, including one in Bendigo’s Lansell Square.
The store at Lansell Square will immediately start a closing down sale to clear all remaining merchandise.
The shopping centre today learned it would lose two site holders – Ed Harry and Westpac, which is closing its Kangaroo Flat branch.
Administrators for Specialty Mens Apparel Pty Ltd, trading as Ed Harry, expected the wind down would take six – eight weeks.
“Unfortunately, and despite having run a comprehensive sale of business campaign, there have been no viable offers received for the ongoing operations of the company,” Brendan Richards, of KPMG, said.
“As such, the administrators have no alternative other than to progress to an orderly wind-down of the company’s operations.”
He took the opportunity to thank Ed Harry’s staff, customers and landlords for their continued support during the administration.
“We look forward to the ongoing support from stakeholders over the remainder of the administration period in order to maximise the return to creditors,” Mr Richards said.
RELATED:
Ed Harry managing director David Clark also thanked the Ed Harry team for its support and efforts.
“Our hard working Bendigo team members and customers have been incredibly supportive and on behalf of the directors I just want to say thank you, this is a sad time for all those who have put so much into our business,” Mr Clark said.
Mr Richards and KPMG colleague Gayle Dickerson were appointed as voluntary administrators of Specialty Mens Apparel Pty Ltd on January 15, after the retail chain endured a “particularly tough” Christmas sales period.
"It has also become clear that shopping centre footfall has been significantly weaker than expected,” Mr Richards said at the time.
Fellow menswear retailer Roger David succumbed to market pressures late last year, resulting in the closure of the store at the Bendigo Marketplace.
Roger David’s administrator, KordaMentha Restructuring’s Craig Shepard, found the retail clothing environment was too tough to attract firm bids.
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.