An Australian clothing retailer employing close to 500 people nation-wide will close its doors for good in the next 6-8 weeks.
Menswear retailer Ed Harry entered voluntary administration last month but efforts to sell the business have now been called off.
All 87 Ed Harry stores will close, meaning 498 jobs in Australia will be lost.
Administrators KPMG said they have no alternative but to perform an “orderly wind down of the company’s operations”.
“Unfortunately, and despite having run a comprehensive sale of business campaign, there have been no viable offers received for the ongoing operations of the company,” Brendon Richards said.
“Despite a thorough sale campaign being undertaken, there has been limited interest from the market in the business as a going concern.
“We would like to take this opportunity to thank Ed Harry’s loyal staff, customers, and landlords for their continued support over the administration – and we look forward to the ongoing support from stakeholders over the remainder of the administration period in order to maximise the return to creditors.”
Ed Harry Managing Director David Clark also thanked the Ed Harry team around the country for their support and efforts throughout this difficult period.
“Our team members and our customers have been incredibly supportive and on behalf of the directors I just want to say thank you, this is a sad time for all those who have put so much into our business,” said Mr Clark.”