Australia-based men’s apparel retailer Roger David is set to close its 57 stores on 2 December, marking the end of its 76 years of retail history.
Administrator Craig Shepard of KordaMentha Restructuring announced that all remaining stock is being sold at 70% off.
On 15 November, KordaMentha, which was called in October, stated that no buyers emerged in a four-week process to sell the retail firm as a going concern.
Founded in 1942, Roger David at one point had more than 100 stores. In 1946, it even dressed Australian cricket team including Don Bradman, Lindsay Hassett, and Keith Miller.
Rising costs, competition from international and online players severely hit its business over the years.
Earlier this month, Shepard said: “Everyone recognised the strength and the affection for the brand, but it did not pass the viability test.”
Roger David has 500 full-time, part-time and casual staff in its stores and other facilities.
It has 193 employees in 19 stores in Victoria, 77 in 12 stores in NSW, 60 in seven stores in Western Australia, , 98 in 15 stores in Queensland, 15 in two stores in Tasmania, 15 in two stores in South Australia, and four in one store in Canberra.
Urging shoppers to clear the remaining stock, Shepard said: “It can be a triple-win in the next six days – people can get a great bargain, a Christmas gift and help provide the cash to pay employees their entitlements.”
Roger David is the latest offline retailer to become a victim of the tough trading conditions. Other retail chains that went into administration in the recent months include Marcs, Pumpkin Patch , Payless Shoes and Rhodes & Beckett.