The Australian-grown cosmetics empire Napoleon Perdis Group has gone into voluntary administration, putting jobs and 56 local stores at risk.
Company directors had been trying to find a buyer for the makeup chain for months.
The administrators Simon Cathro, Chris Cook and Ivan Glavas of Worrells Solvency Accountants will now consider a restructure or pursue the sale option while the business continues to trade.
Napoleon Perdis, who is now based in Athens, opened his first makeup store in 1995 in Paddington, Sydney. After expanding into Australian department stores, the brand launched overseas and operated in the US for more than a decade.
Read the full article at: https://www.theguardian.com/australia-news/2019/jan/31/napoleon-perdis-makeup-empire-goes-bust-putting-australian-jobs-at-risk