Three WA Man to Man clothing stores among 20 Australian outlets to shut
MENSWEAR retailer Man to Man, which went into administration in December, will close 20 ‘underperforming’ Australian stores, including three in WA.
MENSWEAR retailer Man to Man, which went into administration in December, will close 20 ‘underperforming’ Australian stores, including three in WA.
Man to Man stores closing include outlets in the Hay Street Mall, Ellenbrook Shopping Centre and Southlands Boulevarde in Willetton.
The decision by administrators Ferrier Hodgson to shut the stores will result in the loss of 14 jobs in WA, among the 94 jobs in total.
An “all stock must go!” campaign has been launched for the closing 20 stores, while an administrators’ sale will run across the remaining stores to help clear excess stock.
In a statement, Ferrier Hodgson said the stores have been closed to enhance profitability and prepare the chain for a “successful sale”.
Man to Man employed more than 400 staff at 82 stores and turned over $39 million revenue in the 2014 financial year, although $28 million was owed to creditors.
A failed investment decision in a men’s shoe retail chain and tough retail trading conditions were also cited as reasons for the administration decision.
Ferrier Hodgson partner Brendan Richards said while the store closures were regrettable, they were necessary for the survival of the remaining stores.
“Our task as voluntary administrators is to make the business as profitable and attractive as possible so that new owners can see the value of investing in the future growth and stability of Man to Man,” he said.
“With this restructure, we are confident that our ongoing discussions with interested parties will result in a positive and speedy outcome for the business and its dedicated staff.”
Victorian stores took the heaviest hit — 10 stores will close in that state and 46 staff will lose their jobs, while outlets will also go in NSW, Queensland, South Australia and the ACT.
The administrators said employees that will lose jobs may be redeployed in similar roles and locations.
Expressions of interest for purchasing Toman Investments and Man to Man close on Friday.
Originally published as Three WA Man to Man clothing stores among 20 Australian outlets to shut
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