Handbag retailer still open

A POPULAR women’s handbag and jewellery retailer will remain open in Cairns at least for the next couple of weeks despite the company being placed in voluntary administration.

The CBCH Group of companies, trading as Colette by Colette Hayman, was placed into voluntary administration on January 31.

Colette by Colette Hayman, which sells handbags, jewellery and accessories, operates 140 stores across Australia and New Zealand, including two in the Far North, at Cairns Central and DFO Cairns.

Administrators Deloittes will continue to trade the business across its store network, including the two stores in Cairns.

In a statement, Deloitte Restructuring Services partner Vaughan Strawbridge said Colette by Colette Hayman had been impacted by the current weak retail environment.

“Our focus is on continuing to trade the business while we seek either a recapitalisation of the group or a sale of the business,” he said.

“Given the strength of the brand, we are confident we will be able to secure a future for the business and preserve the employment of as many people as possible.”

He said as trading continued, Colette’s more than 300 employees across Australia and New Zealand would continue to be paid by administrators and he was also confident there were sufficient assets to meet all employees’ entitlements.

He said customers’ gift cards would continue to be honoured.

The first meeting of creditors is scheduled for February 12.

Cairns Central and DFO Cairns did not respond to a request for comment yesterday.