Luxe fashion label alice McCALL has sadly gone into voluntary administration, becoming the latest Aussie retailer to fall victim to COVID-19.
In a statement obtained by 9News, fashion designer Alice McCall confirmed she had made the decision to “edit down” her business, with hopes to build a more sustainable business model for the future.
“Due to the unprecedented effects that COVID-19 has had on our economy, as well as some unsustainable bricks and mortar rental obligations, I have had to make necessary decision to edit down my business,” McCall said.
Insolvency firm, SV Partners, has stepped in to help recover the business. While the company is still crunching the numbers, it did warn us to expect a number of store closures and redundancies.
“These steps have not been taken lightly, but have been necessary to give the company the best chance of survival whilst retaining a large number of its team and providing a return to its creditors,” the firm said.
While the future is unknown for alice McCall’s brick and mortar stores, the label’s online business will continue as normal.
The label is still set to launch a capsule collection with Cotton On Kids this Friday, November 13.
This is, unfortunately, just the latest notable Aussie brand to have collapsed during this terribly awful year.
In August, denim label G-Star Australia announced it would close after failing to find a buyer who could pull them out of voluntary administration.
Stationary goods Kikki.K was also placed into voluntary administration in March, but it was later saved (!!!) by an American stationary company.
Erin Condren Design managed to save 30 stores and 250 jobs under the restructured business. However, 35 stores were still shut and around 200 jobs were lost.
Iconic Sydney fashion retailer Tuchuzy also broke the administration curse after announcing it had “regained control” of the company in July of this year.
Daria Sakic, who founded Tuchuzy in 1995, thanked the unwavering love from customers, team, and suppliers for their unyielding support.
Hopefully the same can be said for alice McCALL at some point in the near future.