Almost six years after opening stores in Australia, fashion retailer Topshop Australia has been placed into voluntary administration amid mounting debts.
Administrator Ferrier Hodgson said it will work with Arcadia Group, Topshop/Topman owners in the UK, to convert the Australian business into a sustainable platform going forward.
“The Austradia management team are working closely with the Administrators to ensure the best possible outcome for the business,” Ferrier Hodgson partner James Stewart said.
“Topshop/Topman is one of the world’s best known fast fashion retailers operating nine stand-alone stores, 17 Myer concessions and an on-line business in Australia.”
Austradia separately owns and operates Topshop/Topman’s Australian…