Former Myer chief executive Bernie Brookes has acquired a 90 per cent stake in the stricken handbags and jewellery chain Colette that is relaunching as a business one third the size of the one that went bust in January prior to the COVID-19 pandemic.
"It's a contrarian investment. It is against the wind. I know what I'm getting into,'' Mr Brookes said on Wednesday.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
