OROTON stores will continue to trade and employ staff on a business-as-usual basis while administrators attempt to find a buyer for the struggling luxury handbag retailer.
The company was placed into voluntary administration on Thursday, following a series of shock earnings downgrades earlier this year amid challenging trading conditions, prompting a strategic review of the business.
In a statement to the ASX, OrotonGroup said despite a comprehensive process, during which Oroton decided to pull the pin on its joint venture with US retailer Gap, the review had not resulted in any viable option.
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 vo…
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