General Pants Group-owned Metalicus becomes the latest victim of our dire retail industry
A WEEK ago, it was Esprit. And now yet another iconic clothing retailer is no longer able to continue trading on Australian shores.
FANS of well-known fashion brand Metalicus are reeling after the company announced it was no longer able to continue trading.
The brand revealed it will enter voluntary administration in an email sent to customers late last night.
“Metalicus has long been recognised as an iconic Australian fashion brand and we would like to take this opportunity to thank our customers for their ongoing loyalty and support over the years,” the email stated.
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“While this is a difficult period for our staff and customers, tomorrow we will be launching a sale event at all of our flagship stores, Myer concessions and online with significant savings on all pieces.”
Metalicus’ closing down sale is now on, with 20 to 50 per cent off the entire range.
The label was founded in 1992, and was bought from PAS Group by the General Pants Group in 2016.
Administrators Petr Vrsecky, Stirling Home and Jason Stone from PKF Melbourne have now been appointed to handle the situation.
A General Pants Group spokeswoman told news.com.au Metalicus’ woes would not affect the rest of the company.
“Metalicus entering administration in no way affects General Pants Co. and its stores,” the spokeswoman said.
The label launched its 2018 collection through General Pants as recently as March, with a lavish launch party giving no hint at the troubles facing the brand behind the scene.
It follows last week’s shock announcement that clothing retailer Esprit will close all 67 of its loss-making stores in Australia and New Zealand.
But Esprit and Metalicus are just the latest in a long line of victims in Australia’s struggling fashion retail sector over the past 12 months, including David Lawrence and Marcs, Oroton, Gap, Pumpkin Patch, and Specialty Fashion Group, the company behind brands including Katies, Millers and Rivers.
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