Ed Hardy in voluntary administration
August 16, 2010
Clothing retailer Ed Hardy’s Australian operations have been placed into voluntary administration after suffering from a slowdown in sales. ed hardy clothing
Deloitte partners Simon Wallace-Smith and Tim Norman were appointed administrators to Ed Hardy Operations Ltd and Ed Hardy Pty Ltd, financial adviser Deloitte said.
Ed Hardy sells street wear in its stores in Victoria, NSW, Queensland, South Australia and Western Australia.
Of the 10 stores in Australia, the shops in Paddington (NSW) Pacific Fair and Brisbane (Queensland) and Adelaide (South Australia) had been closed. christian audigier clothing
Mr Wallace-Smith said Ed Hardy’s Australian operations had suffered from a slowdown in sales.
“The aim of the voluntary administrators will be to evaluate the financial position of the companies and to investigate options to restructure the business,” Mr Wallace-Smith said.
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