Hugely popular boutique homewares retailer Fenton & Fenton collapses
A trendy Melbourne-based homewares company with an A-list following has suddenly collapsed.
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Fenton & Fenton, a much-loved Australian homewares boutique that garnered a massive following over the years, has collapsed.
The once-thriving business in the trendy suburb of Prahran in Melbourne’s inner southeast has been placed under external administration.
The merchant’s website, now defunct, features a brief statement announcing the liquidation: “Fenton & Fenton Pty Ltd (In Liquidation) is now in Liquidation with Adam Nikitins and Stewart McCallum of EY appointed liquidators.”
Lucy Fenton, the director of the business, begun the journey in 2008 with a small showroom on High Street, Prahran.
Describing the company’s unique niche as “part interiors boutique, part gallery,” she had created a treasure trove of furniture, homewares, and art from a vibrant array of colours and patterns sourced both locally and globally.
Fenton & Fenton quickly rose in popularity, riding the wave of Melbourne’s interior design boom.
The business’s success led to expansion, and in May 2019, a second showroom was opened in Collingwood.
However, the online store was considered the backbone of the business, shipping their products across Australia and New Zealand.
The company’s Instagram page, boasting a colourful display of its in-house range and the work of artists and furniture designers on their roster, had amassed more than 350,000 followers and was still posting updates as recently as Monday.
Among the followers were prominent Australian celebrities such as Carrie Bickmore, Kyly Clarke, Pip Edwards, Sonia Kruger and Sylvia Jeffries.
The company has yet to release an official statement however customers online have expressed concern over outstanding store credit and orders.
“I’m shocked! Awaiting my order … not sure I’ll see it now,” one said.
“Just wondering if you will be honouring outstanding credit notes now that you have gone into liquidation?” another asked.
News.com.au has contacted the liquidators for comment.
The collapse of Fenton & Fenton is another devastating blow to the Australian retail sector, which has been grappling with challenging economic conditions.
Rising interest rates have caused Australians to tighten their purse strings, closing several independent retailers.
E-commerce has been hit particularly hard of late, with Design A Space and Australian Made Clothes, recently collapsing.
The struggles in the retail sector have not spared well-known brands either.
Popular US shoe brand Rockport filed for Chapter 11 bankruptcy, while clothes seller EziBuy went into voluntary administration due to a significant decline in sales.
Even iconic music and entertainment retailer Sanity had to close all 50 of its stores due to the toll taken by the pandemic. However, it continues to operate in the digital space.
The woes also extended to the fashion industry, with Alice McCall, Brosa, Soda Shades, and Sneakerboy facing financial troubles and collapsing under heavy debts.
Even online giant Missguided succumbed to administration after failing to secure a rescue bid.
These challenges are broader than smaller businesses, as major retailers like David Jones have also seen a downturn in sales following interest rate hikes.
Originally published as Hugely popular boutique homewares retailer Fenton & Fenton collapses
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