Melbourne, Australia-based apparel and accessories retailer Kari Accessories has been put into administration owing to decreased spending by consumers.
Earlier in the year, several notable apparel and retail stores have collapsed, while small retailers such as Covers Design and Fashion Factory Clearance have been placed into administration and liquidation.
David Ross and Domenic Calabretta of Hall Chadwick have been appointed as administrators. The first creditors' meeting is scheduled for October 24, the Australian Securities and Investments Commission said.
Kari Accessories mainly caters to women's segment with focus on fashion. It operates six stores in Victoria, three in Queensland and two in New South Wales. It also distributes its accessories through several retail partners throughout Australia.
Fibre2fashion News Desk - India
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