Colette by Colette Hayman goes into administration, shoppers respond
More than 300 staff and 140 stores are at risk after it was announced that Colette by Colette Hayman had gone into voluntary administration. On Tuesday afternoon shoppers gave mixed views on the collapse of the popular accessory brand.
Manly
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Global handbag business Colette by Colette Hayman has filed for voluntary administration leaving the future of 140 stores and 300 jobs unclear.
Administrators, Deloitte Restructuring Services partners Vaughan Strawbridge, Sam Marsden and Jason Tracy, will continue to trade the business for the time being.
Voluntary administrator Vaughan Strawbridge said: “Colette By Colette Hayman has, unfortunately, been impacted by the current weak retail environment, as have many others.
“Our focus is on continuing to trade the business while we seek either a recapitalisation of the group or a sale of the business.
“Given the strength of the brand we are confident we will be able to secure a future for the business and preserve the employment of as many people as possible.”
Staff at the headquarters of the accesories empire — based on Sydney’s northern beaches — refused to comment, along with staff at a nearby store in Warringah Mall, Brookvale.
On Tuesday, shoppers coming out of the Brookvale store, which was upgraded in 2016 to a larger 165 sqm footprint, were shocked at the news.
Mum Jo Turner, 44, and daughter Emily, 19, of Warriewood said they wouldn’t know where to shop for “fashionable bags at a good price” if Colette stores closed.
Meg Clayton-Smith, 20, of Fairlight, who browsed the store today said she shopped there for cheap earrings at least once a month.
“There’s some really nice stuff in here, it’s pretty cheap,” she said.
“I’d not be happy if it closed.”
However, Sienna Kavalec, 19, of Killarney Heights, said she didn’t normally shop there but had gone in today to find a “nice big bag” she needed, although she didn’t find one.
While her friend Nicola Brag, also 19 from Killarney Heights, said it was “pricey for what you got”.
In an interview with the Manly Daily in 2016 Ms Hayman, hailed as the “queen of handbags” said she was the creative force behind the brand, which sells more than three million handbags a year in Australia, more than any other brand.
The 54-year-old glamorous mother of three, and her husband Mark, who is CEO of the company, are originally from South Africa.
She said the couple had “worked in fashion forever”, living in the UK for eight years before making Manly their home 20 years ago.
“I travel four to five times a year to places around the world. When I come back here, I think how lucky we are, as it’s so beautiful,” she said.
When the family arrived in Australia, the couple launched fashion jewellery chain Diva, which they sold at its peak in 2007.
In 2010 they started Colette by Colette Hayman, to provide “cool and sexy” accessories including handbags and jewellery at affordable prices.
She told the Manly Daily her working day starts about 5.30am and finishes at 10pm.
“I absolutely love my work, it’s my passion, but I also make sure I get time for friends and family,” she said.
Meanwhile, Mr Strawbridge added that, as trading continues, employees will continue to be paid by the administrators.
He said he was also confident there are sufficient assets to meet all employees entitlements. Gift cards will also honoured.
The first meeting of creditors will be held on 12 February.