Ed Hardy Operations calls in voluntary administrators
The company appointed Deloitte partners Simon Wallace-Smith and Tim Norman as voluntary administrators of Ed Hardy Operations and Ed Hardy on Monday. "The appointment only relates to Ed Hardy’s operations in Australia and not the Ed Hardy group internationally," Deloitte said. Mr Wallace-Smith said the brand was hurt by slowing sales and competition from other retailers. “The aim of the voluntary administrators will be to evaluate the financial position of the companies and to investigate options to restructure the business,” Mr Wallace-Smith said. The administrators will continue to operate six stores and shut down the remaining four stores. The stores to remain open include three Victorian stores (Myer Melbourne, Myer Highpont and Chapel Street), a New South Wales outlet (Myer Sydney), a Queensland outlet (Gold Coast) and a Western Australian outlet (Myer Perth). Two stores in Queensland (Pacific Fair and Brisbane), a NSW store (Paddington) and a South Australian outlet (Adelaide city) will be closed. Customers will not be able to redeem vouchers or pick up stock that has been paid for until Deloitte has determined the financial situation of the company. "Ed Hardy’s employees have been notified of the appointment by the voluntary administrators," Deloitte said. "They are classified as creditors of the company. The voluntary administrators will be updating employees on the plans for administration and any restructure on a regular basis." The retailer was forced to suddenly shut all six of its Westfield stores on June 29 after falling behind on rental payments. At the time, the company still had 10 other stores around the country and about 100 wholesale accounts. Today, you can see ed hardy stores here and there especially all over the world. If you're planning to choose ed hardy Jeans as a gift for yourself or families, you can also purchase online, just please visit the ed hardy online store(http://www.edjeans.com) for more discounts and save your money immediately! Good luck! About Author The Paul Smith Online Store, We sell Paul Smith,Paul Smith bags,Paul Smith wallet,Paul Smith purse,Paul Smith Jeans,Paul Smith shoes,Paul Smith T-Shirts,Paul Smith watches,Paul Smith clothing,Paul Smith clothes,Paul Smith Scarf,Paul Smith Belts,Paul Smith Cufflinks,Paul Smith Sunglasses,Paul Smith Ties and all Paul Smith Accessories. Disclaimer: Article submitters are solely responsible for the content of their articles. ArtiLib can't be held liable for the contents of the articles. Report Abuse | Browse By Category |
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