July 2021
Larry Kestelman’s LK Group snaps up Shoes & Sox owner
The Dodo founder’s LK Group has snapped up Brand Collective and is searching for more acquisitions and licensing deals ahead of a potential IPO.
- Sue Mitchell
November 2020
Kestelman deal turns PAS Group into buyer rather than seller
The owner of the Review and Black Pepper chains is helping its new owner, Larry Kestelman's Queens Lane Capital, search for acquisitions.
- Sue Mitchell
September 2020
Seafolly's new CEO sees a ray of sunshine in Qld
The swimwear company's new boss Brendan Santamaria previously ran Designworks, part of fashion company PAS Group which went into administration in late May.
- Simon Evans
Collapsed clothing retailer actually made a profit
Womenswear retailer PAS Group made a small profit in 2020 despite falling into voluntary administration in May as the coronavirus crisis upturned its business.
- Sue Mitchell
August 2020
Seafolly swoops on rival days after rescue deal approved
The beachwear company can't afford to pay its creditors but it can afford to buy out swimwear brand JETS, one of its biggest rivals.
- Sue Mitchell
July 2020
Seafolly creditors query quick sale
Administrators say the swimwear business has been bleeding cash and needs to be sold quickly to stem losses and maximise returns to creditors.
- Sue Mitchell
KPMG proposes COVID-19 administration regime
A proposed bespoke COVID-19 administration regime would help retailers such as Seafolly survive the pandemic.
- Sue Mitchell
Buyers line up for collapsed clothing retailers
Buyers can see potential to turn around collapsed retailers such as Seafolly and PAS Group by closing stores and boosting online sales.
- Sue Mitchell
Private equity under spotlight as retail victims pile up
Five private equity-backed retailers have collapsed this year. The common thread? Too much debt.
- Sue Mitchell
June 2020
'Tactical' collapses on the rise as retailers restructure
Insolvency practitioners expect 'tactical' voluntary administrations to increase as retailers accelerate restructuring after emerging from lockdown.
- Sue Mitchell
May 2020
- Opinion
- Chanticleer
PAS collapse a dose of COVID-19 reality
Workers and investors - including one Rich Lister - have been reminded that firms in trouble before this crisis will struggle to emerge from it.
- James Thomson
Fashion retailer PAS Group goes into administration
The company behind names like Review and JETS Swimwear has hoisted the white flag leaving 225 stores and 1300 staff in limbo.
- Simon Evans and Carrie LaFrenz
ASX notches up fifth week of gains; Westpac's Evans makes case for negative rates
Australian stocks scored a double despite finishing weaker on Friday: a fifth consecutive week of gains and back-to-back monthly advances. Afterpay soars in May, while CSL was one of the worst in the ASX200.
- Robert Guy, Vesna Poljak, William McInnes, Luke Housego and Sarah Turner
April 2020
Footwear retailer Accent starts to reopen stores
The footwear retailer is gradually reopening all its stores, but has reiterated calls for rents to be rewritten so retailers and landlords share the pain.
- Sue Mitchell
'All options' on the table in PAS Group restructure
PAS shares have gone into a trading halt for the board, led by former Target and Billabong International boss Launa Inman, to consider restructure options.
- Sue Mitchell
March 2020
Woolworths hiring 20,000 to meet demand surge
The supermarket chain is hiring thousands of people as demand for groceries soars, while other companies, including Kathmandu, shut stores.
- Jenny Wiggins and Carrie LaFrenz
January 2020
PAS Group earnings to fall at least 40pc despite sales rebound
The women's wear retailer expects underlying earnings to fall 40-48 per cent in the December-half despite a rebound in retail sales.
- Sue Mitchell
January 2019
Retail foot traffic falls again in January following worst December on record
Foot traffic in retail stores continued to fall in January after the worst December on record, dragging down same-store sales at under-pressure discretionary retailers.
- Updated
- Sue Mitchell
Weak retail spending an 'unintended consequence' of banking royal commission
First it was home loans, now retail spending appears to have fallen victim to the crackdown on credit in the wake of the financial services royal commission.
- Updated
- Sue Mitchell
February 2018
Noni B pays bumper dividend as profits rise fourfold to $11.8m
Noni B, which came close to collapse almost four years ago, has emerged as a potential buyer of Specialty Fashion Group after a stunning turnaround.
- Updated
- Sue Mitchell