- Huw Hughes |
The Australian arm of Karen Millen has fallen into administration, a month after its British parent company announced an administration filing.
Deloitte partners Richard Hughes, Tim Norman and Michael Billingsley have been appointed Joint and Several Administrators.
Deloitte Australia is now conducting a wind down of the company’s seven independent stores along with eight concessions housed in David Jones and Myer.
Last year, Karen Millen Australia achieved a turnover of approximately 19 million Australian dollars and has approximately 80 employees.
Administrator Tim Norman said in a statement: “With the UK business now sold and the label withdrawing from Australia, we expect to wind down the business here and progressively close all stores in the coming weeks.
“If quick, shoppers can expect some bargains with discounted stock being sold from stores and online until the end of this month”.
Stores are located in Victoria (DFO South Wharf, Emporium, Chadstone, Doncaster), NSW (QVB, Chatswood Chase), and SA (Burnside Village) and concession stores in David Jones (Syd CBD, Mel CBD), and Myer (Syd CBD, Bondi, Bris CBD, Mel CBD, Chadstone, Perth).
Last week, The Dutch division of Karen Millen declared bankruptcy.
Photo credit: Karen Millen Australia, Facebook