Topshop Australia enters administration risking over 750 jobs

Topshop Dean lewins AAP

The high street fashion retailer, Topshop, in Australia has entered voluntary administration, the Guardian has reported this morning.

It has been revealed that the retailers’ nine stand-alone stores, 17 Myer concessions and online business – which were all under review – has been placed in voluntary administration.

This move will risk the jobs of 760 employees as well as the annual sales of approximately $90m (Australian Dollars).

Topshop opened in Australia back in 2011 – shortly followed by GAP and ZARA.

Arcadia, who own Topshop here in the UK, have also faced some troubling times over recent years – including the controversy behind the fall of British Home Stores back in April 2016, which lead to the loss of 11,000 jobs and a pension sum of £517m.




Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s