13 Marcs and David Lawrence stores to shut down in Australia

13 Marcs and David Lawrence stores to shut down in Australia

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Nine stores and four outlets will close by February 21 while 10 full time employees and 10 part timers will be laid off according to reports. The beleagured fashion brands are trying to adjust 50 other staffers in different outlets. They have also given employees the option of taking redundancy payouts.

13 Marcs and David Lawrence stores to shut down in Australia
The fashion retailers, which are two of Australia’s best-known labels, employ about 1,130 staff in Australia and another 42 in New Zealand across their 52 stores, 11 outlets and 140 concessions

Four David Lawrence stores and one Marcs outlet in Victoria will shut by next week, along with one David Lawrence boutique and one Marcs shop in Sydney.

The job cuts and store closures come a fortnight after the troubled businesses were placed in voluntary administration.

The fashion retailers, which are two of Australia’s best-known labels, employ about 1,130 staff in Australia and another 42 in New Zealand across their 52 stores, 11 outlets and 140 concessions.

A number of bigger retailers have shown interest in buying the two brands and the administrators, Rodgers Reidy, are hopeful of a sale. Potential buyers have until February 22 to lodge their interest.

David Lawrence and Marcs are among a string of retailers hit by tough times in the Australian retail market.

Rhodes and Beckett, and Herringbone were placed in voluntary administration last week, leaving the futures of about 140 workers in doubt. Payless Shoes and Howards Storage World appointed administrators two months ago, while children’s retailer Pumpkin Patch entered receivership last October, according to a report in The Guardian.