Marcs, David Lawrence placed in voluntary administration

MORE than 1000 jobs are on the line as fashion brands David Lawrence and Marcs, both often worn by A-listers, are placed into voluntary administration.

More than 1000 staff will be affected.

LEADING fashion brands David Lawrence and Marcs have been placed in voluntary administration.

Administrator Rodgers Reidy’s director Geoffrey Reidy says the two brands would continue to trade while his team reviews their operations ahead of a planned sale of the businesses.

The sole director of the companies operating the labels, Malcolm Webster, says it has been necessary to appoint administrators because of deteriorating sales, market conditions and poor cash flow.

The brands operate from 52 stand alone stores, 11 outlets and 140 concession stores in Australia and New Zealand.

Ten of those stores and 42 staff are in New Zealand, while 1130 staff, including 260 full time workers, are employed in Australia.

The fashion brands have told the administrator all employee wages were paid until January 30, 2017.

Staff will hear more about their futures from their managers, while customer gift cards and returns will be honoured as normal, the administrator said.

Originally published as Marcs, David Lawrence placed in voluntary administration