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Australia business of G-Star Raw declares insolvency
18 May 20 1 min read
Amsterdam-based apparel retailer G-Star Australia Pty Ltd. recently declared insolvency because of the COVID-19 pandemic. It opted for voluntary administration in Australia, where it has 57 outlets under the brand G-Star Raw. The move affects nearly 200 employees. Ernst & Young’s Justin Walsh, Stewart McCallum and Sam Freeman have been appointed as administrators.
The administrators will now assess the company’s business and determine a strategy, according to Australian media reports.
Founded in 1989, G-Star Raw’s Australia business had already gone into voluntary administration in 2015. The brand has also has flagship stores in Paris, London, Milan and Shanghai, as well as around 140 stores in the United States.
This year, two other major retailers in Australia were also badly affected by the crisis generated by the pandemic—denim chain Jeanswest went into administration and department store Harris Scarfe closed more than 20 stores.
The administrators will now assess the company’s business and determine a strategy, according to Australian media reports.
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Founded in 1989, G-Star Raw’s Australia business had already gone into voluntary administration in 2015. The brand has also has flagship stores in Paris, London, Milan and Shanghai, as well as around 140 stores in the United States.
This year, two other major retailers in Australia were also badly affected by the crisis generated by the pandemic—denim chain Jeanswest went into administration and department store Harris Scarfe closed more than 20 stores.
Fibre2Fashion News Desk (DS)
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