Australian fashion accessory brand Colette by Colette Hayman is officially shutting down for good, following a long and difficult financial journey.
As of Thursday, stores across the country began holding flash clearance sales, with massive discounts of 60 to 80 per cent on all items. Shoppers noticed signs outside various branches, including one at Westfield Tea Tree Plaza in South Australia, which read: “Final day of trade. 60–80% off. Everything must go!”
Employees, who spoke anonymously to 7NEWS.com.au, confirmed the brand’s closure. Staff were informed of the decision on Thursday, and while some stores will remain open temporarily, they are only doing so until existing stock is cleared.
One employee revealed that the company had entered voluntary administration.
The closure marks the end of a bumpy road for the brand. Colette by Colette Hayman first went into administration in 2020, after which it was acquired by former Myer CEO Bernie Brookes. This takeover, however, led to the closure of over 100 stores across Australia and New Zealand.
Brookes then launched the Marquee Retail Group, which also bought the leather goods brand The Daily Edited. But in April 2024, Marquee Retail Group itself entered voluntary administration, unable to rescue either label from financial collapse.
In a last-ditch effort, a two-month-long administration process saw 40 Colette stores salvaged through a restructure, temporarily preserving more than 400 jobs. Despite these efforts, the company has now reached its final chapter.
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