Oroton stores will operate as usual after the 79-year-old Australian luxury handbag retailer collapsed into voluntary administration.
The company says it has been unable to find a viable option for recapitalising or selling the business following a seven-month strategic review.
Interim chief executive Ross Lane, the grandson of Oroton founder Boyd Lane, said there was no other solution that could achieve a better outcome than voluntary administration.
“The board is disappointed that it has had to take this step after running such a comprehensive process,” he said in a statement to the ASX on Thursday.
“However, having carefully considered the options available to the company at the conclusion of its strategic review, it is apparent that v…
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