15 November 2018
Roger David’s 57 fashion and accessories stores will close within weeks after no buyers emerged in a four-week process to sell them as a going concern.

Administrator Craig Shepard of KordaMentha Restructuring said today there had been some interest amongst potential buyers but the retail clothing environment was too tough to make it work.

“Everyone recognised the strength and the affection for the brand, but it did not pass the viability test,” Mr Shepard said.

“Roger David was a victim of rising fixed costs, fierce competition from online and global competitors and cautious consumer demand.”

Mr Shepard said all remaining stock, including the summer range, is being moved into stores and will be priced to clear. All stores in the 76-year-old chain would be closed down by early to mid-December. The business was placed in Voluntary Administration on 18 October.

Roger David employs 300 full-time people and almost 200 casuals and part-timers. 

Mr Shepard said: “The employees and customers have been remarkable in the past four weeks to help provide the company with cash flow to help pay entitlements and creditors. Discounts of 60% or more will continue until the last day.”

Roger David has 193 employees in 19 stores in Victoria, 98 in 15 stores in Queensland, 77 in 12 stores in NSW, 60 in seven stores in Western Australia, 15 in two stores in South Australia, 15 in two stores in Tasmania and four in one store in Canberra. 
 
Media contact:
Michael Smith
Inside Public Relations
0411 055 306 | [email protected]
 
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KordaMentha Restructuring works with companies in financial distress – to restructure and to stabilise the business or to recover value on behalf of stakeholders.