Sad demise of Ed Harry

FAILED menswear retailer Ed Harry will close its doors for the last time in the coming weeks, leading to the loss of more than 120 jobs across Queensland.

The Hindmarsh-based company, which fell into the hands of administrators last month, has failed to attract a white knight to take over its national network of 87 stores after news its parent company Speciality Men’s Apparel Pty Ltd went into administration.

Townsville employees will be among the 124 Queensland staff to lose their jobs due to the closures.

On January 15, KPMG’S Brendan Richards and Gayle Dickerson were appointed voluntary administrators of menswear retailer Specialty Mens Apparel Pty Ltd, trading as “Ed Harry”.

About 100 trade creditors are owed $5.3 million, while close to 500 employees across the country are owed $1.25 million in entitlements.

Landlords are owed $2.4 million and 20 secured creditors are owed $4 million.

“Unfortunately, and despite

I JUST WANT TO SAY THANK YOU, THIS IS A SAD TIME FOR ALL THOSE WHO HAVE PUT SO MUCH INTO OUR BUSINESS MANAGING DIRECTOR DAVID CLARK

having run a comprehensive sale of business campaign, there have been no viable offers received for the ongoing operations of the company,” Mr Richards said.

“As such, the administrators have no alternative other than to progress to an orderly wind down of the company’s operations.”

Mr Richards said he expected this would occur over a period of the next six to eight weeks while all stock was realised and the company’s operations fully wound down.

“Despite a thorough sale campaign being undertaken, there has been limited interest from the market in the business as a going concern,” Mr Richards said.

“We would like to take this opportunity to thank Ed Harry’s loyal staff, customers, and landlords for their continued support over the administration – and we look forward to the ongoing support from stakeholders over the remainder of the administration period in order to maximise the return to creditors.”

Ed Harry managing director David Clark also thanked the Ed Harry team around the country for their support and efforts throughout this difficult period.

“Our hardworking Townsville team members and customers have been incredibly supportive and on behalf of the directors I just want to say thank you, this is a sad time for all those who have put so much into our business,” Mr Clark said.

The Willows Shopping Centre Townsville store will immediately commence a final closing down sale to clear all remaining merchandise.

Ed Harry has been trading since the first “Harry” menswear store was opened in Adelaide in 1932 by Victor Harry, with his son Edward joining the business in 1971.