Best of the Web: CR's new label

Morrissey closures

Webster Holdings-owned brand Morrissey reveals it will close its four stores in Melbourne and Sydney. The label, purchased from Oroton Group in 2006, cited the global financial crisis as the reason for the closures.

Lee gets creative

Denimwear giant Lee has launched a photographic competition dubbed 'Lee Makes History', calling on individuals to submit snapshots, portraits or landscapes which "convey messages of meaning". The winner stands to pocket $US 40,000.

Herringbone pain

Creditors of collapsed corporatewear chain Herringbone say recovering the $7.8 million they are owed is unlikely. According to administrator BRI Ferrier, claims total $13.8 million, with St George Bank owed close to $6 million.

Bad sports

The new owners of International Sports Clothing (ISC) could be in strife after former parent DMC entered administration. DMC's sale of the business included existing licensing agreements, potentially rendering ISC liable for outstanding funds.