Leadership uncertainty, a murder scene of a P&L and mass job losses. What happened to everyone’s favourite preppy fashion retailer Country Road?
The Woolworths Holdings subsidiary, whose eponymous duffel bag is up there in the nostalgia stakes with Mimco crossbody bags, swung to a $61 million after-tax loss last financial year. This is despite pulling in over $1 billion in sales. And it’s that $1 billion figure prompting a handful of interested parties to have a look at the business and consider whether the broken brand name can be salvaged.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
