Seven Nike-branded stores across Sydney have abruptly shut down after local franchisee AF-1 was placed into voluntary liquidation.
The affected outlets were in prominent suburbs and shopping precincts including Pitt Street (CBD), Bondi, Neutral Bay, Chatswood, Burwood, Warringah and Castle Hill.
In a notice sent to the Australian Securities and Investments Commission (ASIC) last week, the company said it would be wound up and appointed BCR Advisory’s John Morgan as liquidator.
With the collapse leading to the immediate termination of over 100 employees, BCR Advisory has confirmed that roles have ceased, with employees’ entitlements – including wages, annual leave and redundancy to be compensated via the Commonwealth’s Fair…