Luxury fashion department store Harrolds enters liquidation after 39 years
An Australian luxury fashion retailer has entered liquidation after 39 years.
Harrolds — founded in 1985 — ceased trading before being placed into liquidation in early October.
Andrew MacNeill from specialist firm SMB Advisory was appointed as liquidator.
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By continuing you agree to our Terms and Privacy Policy.The family-owned and operated department store stocked ready-to-wear fashion, footwear and accessories from international and local designers including Tom Ford, Manolo Blahnik and Alexander McQueen.
“The director has advised that the decision to appoint a liquidator to the companies comes after significant efforts to navigate the post-COVID retail landscape, which has presented unprecedented challenges for businesses across the sector,” MacNeill said.
“Despite best efforts to adapt to the evolving economic environment, a combination of reduced luxury spending, decreased foot traffic, and unfavourable government policies has significantly impacted operations.”
It’s understood unrelated creditor claims total approximately $12.5 million.
Former employees are advised to contact SMB Advisory’s Melbourne office to lodge a claim for outstanding entitlements.
“SMB Advisory will report to creditors in due course as to the progress of the winding up and advise of the estimated return to creditors,” MacNeill added.
Harrolds held a warehouse sale before closing both flagship stores in Sydney and Melbourne earlier this year. Its website remains active with a banner teasing a “new chapter”.
Originally published on 7NEWS
