The 79-year-old luxury handbag retailer has struggled financially in sales, resulting in $14.3 million in losses last year according to The Herald. This was compared to a $3.4 million profit the previous year.
The company revealed this morning that an eight-month strategic review failed to find a “viable option” to secure its future. In a statement to the ASX, OrotonGroup interim chief executive Ross Lane said:
We have made every effort to avoid taking this decision but have been unable to source a viable solution which could achieve a better outcome than voluntary administration. The board is disappointed that it has had to take this step afte…
Read the full article at: https://www.marieclaire.com.au/oroton-goes-into-voluntary-administration?category=Fashion
