Fashion retailer Topshop/Topman has been placed into voluntary administration due to rising debt levels, putting hundreds of jobs at risk.
Ferrier Hodgson have been appointed voluntary administrators of the retailer which employs 760 people and has annual sales of approximately $90 million.
It remains unclear what will happen to the perth store which opened in the Murray Street Mall in 2014.
Administrator James Stewart said the company would continue to trade as normal while he works closely with Topshop/Topmanâs UK owners Arcadia Group to figure out next steps.
âIt will be business as usual as the Administrators work closely with Arcadia Group (the UK owners of the Topshop/Topman brand) on supporting and right-sizing the Australian business to a sustainable platform going forward,â he said.
âTopshop/Topman is one of the worldâs best known fast fashion retailers operating nine stand-alone stores, 17 Myer concessions and an online business in Australia.â
Mr Stewart said employees at Topshop/Topman will continue to be paid by the Administrators and normal customer policies such as gift cards and product returns will be honoured during the Administration…
