Buy­ers eye trou­bled re­tail­ers

The Press - - Business -

Ex­pres­sions of in­ter­est are pour­ing in for trou­bled fash­ion la­bels Marcs and David Lawrence.

The brands are in vol­un­tary ad­min­is­tra­tion in Aus­tralia and New Zealand, where in to­tal they have 52 stores, 11 out­lets and 140 con­ces­sion stores.

Ad­min­is­tra­tors Rogers Reidy an­nounced yes­ter­day that nine David Lawrence stores and four Marcs out­lets will shut in about a week, mak­ing 20 staff re­dun­dant and putting an­other 50 staff in a state of limbo.

None of the 10 stores in New Zealand will close, giv­ing a re­prieve for their 42 staff.

Rogers Reidy’s New Zealand ad­min­is­tra­tor, Paul Vlasic, said it was busi­ness as usual and the Kiwi stores were meet­ing bud­gets.

Ex­pres­sions of in­ter­est closed next week and so far 38 have been re­ceived, he said.

Ad­min­is­tra­tor Ge­off Reidy said the stores iden­ti­fied for clo­sure had been ear­marked be­fore his firm was ap­pointed. He hoped that by re­duc­ing some of the costs, such as store leases, the stores would be more at­trac­tive to buy­ers.

The com­pa­nies’ di­rec­tor, Mal­colm Web­ster, has cited poor cash­flow, tough con­di­tions and de­te­ri­o­rat­ing sales for his move.

David Lawrence and Marcs are the sixth cloth­ing op­er­a­tors to col­lapse in Aus­tralia since De­cem­ber, putting nearly 4000 re­tail jobs at risk. –Fair­fax NZ

PHOTO: DAVID WHITE/FAIR­FAX NZ

Spark’s Si­mon Mout­ter says call-cen­tre in­vest­ment and a move to fi­bre have helped im­prove cus­tomer ser­vice.

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