Up to 400 jobs are expected to be lost following the collapse of Marquee Retail Group, the owner of accessory retailers Colette By Colette Hayman and The Daily Edited.
Restructuring firm Mackay Goodwin confirmed the news with Ragtrader, adding that most of the Colette By Colette Hayman stores are already closed, except for 10 which are currently running stock clearance sales.
The ten still-operating stores include three in New South Wales, two in Victoria, four in Queensland and one in Western Australia.
The Daily Edited is also clearing stock with discounts up to 80 per cent on its online platform.
Once stock in each store is gone, Mackay will close their doors permanently.
Despite the efforts from the team at Marquee Retail Group, the business has not been able to recover due to economic headwinds, Mackay Goodwin reported.
This the second time the Marquee business has collapsed since falling into voluntary administration in 2024. Marquee chairman Bernie Brookes had saved the business through a deed of company arrangement (DOCA). Prior to that, the Colette by Colette Hayman retailer collapsed in 2020 before being bought up by Brookes.
The Daily Edited also collapsed prior to the Marquee fall in 2024, falling into voluntary administration in 2022 before being bought up by Brookes.
Mackay Goodwin confirmed it is currently in the process of working with Marquee Retail Group to wind down all entities, including Colette and The Daily Edited.
“We are anticipating up to 400 jobs will be lost as a result of the closures and we will work with the impacted employees to make claims through government assistance programs once the companies are placed into liquidation,” Mackay shared with Ragtrader.