National insolvency specialist Jirsch Sutherland has been appointed to handle the voluntary administration of Melbourne-based Australian fashion label and boutique retailer, Zachary the Label.
The established brand was placed into Voluntary Administration on February 26.
According to Jirsch Sutherland Melbourne managing partner Glenn Crisp, this was as a result of rapid expansion, in addition to restricted funds required to continue the operation of the business, produce stock and market the label.
Crisp and Jirsch Sutherland Melbourne principal Liam Bellamy are currently assessing the business, meeting with creditors and managing the closure of the unprofitable stores in preparation of selling Zachary the Label as a going concern.
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Read the full article at: http://www.ragtrader.com.au/news/another-retailer-has-just-gone-bust