Popular jewellery and bag companies Colette and The Daily Edited have fallen into voluntary administration, as their umbrella company Marquee Retail Group tries to salvage their business during cost of living pressures.
MRG, which owns the popular accessory brands Colette by Colette Hayman and The Daily Edited, stated the business had suffered from the unplanned downturn in sales from October 2023 to March 2024.
The brand explained this loss resulted from rising inflation and increased interest rates.
The business was also undertaking an ongoing debt arrangement with the ATO, which dates from the Covid-induced drop in sales.
The board of directors at MRG appointed Domenic Calabretta, Mitchell Ball and Richard Lawrence of Mackay Goodwin as …
Read the full article at: https://www.news.com.au/finance/business/retail/colette-by-colette-hayman-brand-owner-marquee-retail-group-goes-into-voluntary-administration/news-story/eb2ea54c8719b2ad7b9cf47007288015