BCR Advisory Sydney
Insolvency

Herringbone and Rhodes & Beckett have gone into administration

BCR team Comments Off on Herringbone and Rhodes & Beckett have gone into administration

This article was sourced from Business Insider Australia. Article by Chris Pash.

Fashion clothing brands Herringbone and Rhodes & Beckett have gone into voluntary administration, joining a growing list of retailers seeing customer support fade.

They have 29 stores with 140 employees. Insolvency group Cor Cordis has been appointed administrator.

They follow fashion labels Marcs and David Lawrence which last week went into voluntary administration, citing deteriorating sales, general market conditions and poor cash flow.

They are the latest in a string of players in the retail sector, under pressure from online trading and emerging competitors, going into administration, including Payless Shoes, Pumkin Patch, Howards Storage World and Dick Smith stores, which closed last year.

Some retailers have been reporting disappointing December and January sales.

German group van Laack’s acquired Herringbone in 2009 and Rhodes & Beckett in 2012.

For specialist advice regarding your specific circumstances, please contact the BCR team.

amy@bcradvisoryblog.com'
BCR team
The BCR Advisory team are a national represented firm with its main office located in Sydney. It is a boutique corporate advisory, recovery and insolvency firm that specialise in the SME market. The team’s reputation is built on their extensive experience within the industry as well as their fresh and innovative approach to problem solving for distressed business owners.Let us know what you thought about this article by leaving a comment below. Alternatively, you can get in touch with the BCR Advisory through our contact page.

Similar Articles

BCR Advisory team
Bankruptcy Insolvency

Fifth Circuit Rules for PACA Claimants, and Weakens PACA, All in One Curious Ruling

BCR team

 This article was sourced from JD Supra Business Advisor. Article by Leah Fiorenza McNeill.  Most restructuring practitioners are aware, either vaguely or through punishing experience, of the power of PACA creditors.  PACA (or the Perishable Agricultural Commodities Act, 7 U.S.C. § 499a et seq. for those who hate brevity) requires that buyers of produce hold such […]

Insolvency Law Change 2017
Insolvency

The Sub-Contractor Scam: ‘Certified Fraud’

BCR team

This article was sourced from Sourceable. Article by Anne Paten. If you walk around any construction site across the country, it’s immediately apparent that sub-contractors are the backbone of Australia’s building and construction industry. They enter into contracts, do the work and have a fundamental legal right to be paid. But in this industry, all small business […]

BCR Advisory Sydney
Insolvency

In the matter of Bromesley Pty Limited (Receiver and Manager Appointed) [2017] NSWSC 295

BCR team

This article was sourced from BarNet Jade.  This article is in PDF format and can be found at https://jade.io/article/525205 For specialist advice regarding your specific circumstances, please contact the BCR team. Tell us what you thought of this article by commenting below or connecting with us on LinkedIn or Twitter.