Luxury fashion retailer Harrolds collapses, owing millions
The 40-year-old department store is the latest in a series of disappointing headlines for the luxury sector.
Harrolds, a luxury fashion department store with flagships in Sydney and Melbourne, has reportedly collapsed owing local and global fashion brands millions of dollars.
Industry publication Ragtrader on Tuesday reported that ASIC documents showed Harrolds, which stocked the likes of Gucci, Alexander McQueen and Australian labels Anna Quan and Song for the Mute, owed fashion brands millions and was entering liquidation after nearly 40 years in business. SMB Advisory was appointed as liquidator.
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