NewIdeaFood
  • News
  • Dinner Tonight
  • Baking
  • Trolley Watch
  • Easy Entertaining
  • Healthy-ish
  • Video
NewIdeaFood
  • News
  • Dinner Tonight
  • Baking
  • Trolley Watch
  • Easy Entertaining
  • Healthy-ish
  • Video
Subscribe
  1. Home
  2. Trolley Watch

Breaking: Fashion retail favourite Colette by Colette Hayman in $150 million collapse - 300 jobs and 140 stores at risk

The retail giant has been placed into voluntary administration - by Amy Sinclair
  • 04 Feb 2020

It has been revealed that the Australian jewellery and accessories retailer Colette by Colette Hayman was placed into voluntary administration late last month.

Deloitte Restructuring Services partners Vaughan Strawbridge, Sam Marsden and Jason Tracy have been appointed administrators over the CBCH Group which trades under the Colette name.

Breaking: Fashion retail favourite Colette by Colette Hayman in $150 million collapse - 300 jobs and 140 stores at risk

In a statement issued by the partners on Tuesday, Strawbridge said Australia’s weak retail climate largely contributed to the brand’s failure.

‘Weak retail environment’

“Colette By Colette Hayman has, unfortunately, been impacted by the current weak retail environment, as have many others,” Strawbridge said.

“Our focus is on continuing to trade the business while we seek either a recapitalisation of the group or a sale of the business.

“Given the strength of the brand we are confident we will be able to secure a future for the business and preserve the employment of as many people as possible.”

The administrators will continue to trade across its 140 stores in Australia and New Zealand, including 37 stores in New South Wales, 33 in Victoria and 30 in Queensland.

colette-by-colette-hayman-voluntary-administration-1

The store is a favourite with shoppers for his bargain accessories and handbags.

Image: Instagram

Stores will continue to honour gift cards.

The business employs over 300 permanent staff, plus casuals with annual gross sales of over $140 million.

Administrators are confident there are sufficient assets to meet employee entitlements.

This story first appeared on 7NEWS.com.au

Amy Sinclair
Amy Sinclair
Amy Sinclair is a contibutor for New Idea Food.

Subscribe to New Idea to enter into Magshop's $50,000 Winter Giveaway!-Save up to 45%

Subscribe to New Idea Weekly

Subscribe Now
Subscribe to New Idea to enter into Magshop's $50,000 Winter Giveaway!

Subscribe to New Idea to enter into Magshop's $50,000 Winter Giveaway!-Save up to 45%

Subscribe to New Idea Weekly

Subscribe Now
Subscribe to New Idea to enter into Magshop's $50,000 Winter Giveaway!

Recommended to you

ALDI - DON'T DROWN IN ONE-OFF DISCOUNTS!
Watch 0:15

ALDI - DON'T DROWN IN ONE-OFF DISCOUNTS!

{headline}

{headline}

Breaking: Popular department store Harris Scarfe goes in voluntary administration

Breaking: Popular department store Harris Scarfe goes in voluntary administration

ALDI's new 'soul-warming' French Fondue Cheese is here

ALDI's new 'soul-warming' French Fondue Cheese is here

After six years, Tasty Toobs is finally back on shelves

After six years, Tasty Toobs is finally back on shelves

The new dark choc banoffee-flavoured Tim Tams are finally here!

The new dark choc banoffee-flavoured Tim Tams are finally here!

{headline}

{headline}

Pringles launches its new veggie-inspired range

Pringles launches its new veggie-inspired range

In case you missed it: Here's all the good stuff that have launched this week

In case you missed it: Here's all the good stuff that have launched this week

Brand-new vegan Lotus Biscoff cake launches

Brand-new vegan Lotus Biscoff cake launches

{headline}

{headline}

KitKat's launches all-new dark chocolate range & it's the perfect late night snack

KitKat's launches all-new dark chocolate range & it's the perfect late night snack

The brand-new Frozen KitKat Sticks are finally here!

The brand-new Frozen KitKat Sticks are finally here!

Smarties swaps out packaging for a recyclable option

Smarties swaps out packaging for a recyclable option

Quick and easy "popsicle" cake hacks kids will love!

Quick and easy "popsicle" cake hacks kids will love!

Amateur cake decorator reveals STUNNING Woolies wedding cake hack!

Amateur cake decorator reveals STUNNING Woolies wedding cake hack!

Woolworths announces "exciting" new change for shoppers

Woolworths announces "exciting" new change for shoppers

3-Ingredient 'Sizzler Cheese Bread' recipe REVEALED!

3-Ingredient 'Sizzler Cheese Bread' recipe REVEALED!

NewIdeaFood
  • About Us
  • Contact Us
  • Dietary info
  • Terms and Conditions
  • Privacy Policy
NewIdeaFood Magazine Subscribe
  • About Us
  • Contact Us
  • Dietary info
  • Terms and Conditions
  • Privacy Policy

Brands

  • New Idea
  • Better Homes and Gardens
  • Better Homes and Gardens Shop
  • All Recipes
  • Practical Parenting

Our Network

  • marie claire
  • Beauty Crew
  • Who
  • Women's Weekly Food
  • Bounty Parents
  • Girlfriend
  • That’s Life
  • Home Beautiful
  • 7plus
  • 7News
  • Sunrise
  • Starts at 60
  • The West Australian
  • Perth Now
  • 7mate
  • 7Sport
© 2022 Are Media PTY LTD
All products are independently selected, tested or recommended by our team of experts.If you buy something, we may earn an affiliate commission.
Get more from New Idea Food

Magazine Subscription Offer

Subscribe to New Idea to enter into Magshop's $50,000 Winter Giveaway!-Save up to 45%

Shop This Offer
Subscribe to New Idea to enter into Magshop's $50,000 Winter Giveaway!