Ed Harry is set to close its doors, after no viable offers were received for the menswear retailer.
On 15 January, KPMG’s Brendan Richards and Gayle Dickerson were appointed to the business.
“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,” Richards said.
“As such, the Administrators have no alternative other than to progress to an orderly wind down of the company’s operations.”
Richards said he expected this would occur over a period of the next six to eight weeks while all stock is realised and the Company’s operations fully wound down.
“Despite a thorough sale campaign being undertaken, there has been limited interest from the market in the business as a going concern,” he said.
“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 MD David Clark also thanked his team.
“Our team members and our customers e 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,” Clark said.
Ed Harry ranges four proprietary brands: Insitu DNM, Jonathan Adams, and Villains of Virtue. Ed Harry operates 87 stores and employs 498 staff.
The head office isbased in Hindmarsh, Adelaide South Australia.