NATIONAL: Unisex fashion brand Morrissey is the latest casualty of the global financial crisis.
Owner and retail giant M Webster Holdings has announced it will close the brand's four stores in Sydney and Melbourne and produce its last collection for the spring/summer 2008/09 season.
M Webster Holdings purchased the embattled brand from Oroton Group in 2006 as part of a $6.3 million transaction, which included both the underperforming Morrissey and Marcs labels.
Financial director Eitan Madar told Ragtrader at the time he hoped to achieve "peak" trading performances for both brands by 2009.
For more, pick up a copy of Ragtrader's February 27 edition.