Bad news if you’re in the market for either some smart casual streetwear or a suit for your Year 10 formal: menswear chain Roger David is going into administration.
The brand will embark on a massive closing-down sale under the guidance of administrator KordaMentha.
KordaMentha issued a statement laying the blame for the outfitter’s demise on competition from other outlets and a failure to adapt to the “rapid evolution” of online shopping:
Roger David, like many other fashion retailers, has been buffeted by global competition, stagnant sales and rising fixed costs. The company has been exploring all options, including a sale of the business, but has been unable to find an alternative to administration.
Despite the directors’ best efforts with the business, it simply could not compete with the influx of multinational retailers and the rapid, global evolution of online shopping.
There are currently 57 stores being operated by over 300 staff across Australia. The company has existed in some form since 1942.
So, if you’re of a mind to pick up some new slacks, then head to your local Roger David outlet. Sounds like things will be going pretty damn cheap!
