Betts, one of Australia’s longest-running shoe chains, has called in voluntary administrators and will close more than half of its brick-and-mortar stores. Some 15 stores are expected to keep operating, as the iconic shoe company pivots its operations online.
The shoe store has been slowly closing outlets in recent years following the shift to online shopping and a drop-off in foot traffic. It once operated nearly 220 stores at its peak, but has now confirmed it will close 20 of its remaining 35 outlets around Australia.
Lindsay Bainbridge from Pitcher Partners Melbourne has been appointed as voluntary administrator. A spokesperson confirmed to Yahoo Finance the tough decision was focused on store…