Sydney Nike stores: Fanchisee shuts down seven stores, more than 100 jobs axed
Seven Nike stores across Sydney have closed and more than 100 staff members have lost their jobs after a franchisee fell into liquidation.
The company, AF-1, has managed Nike stores in Sydney since 2006 along with a retail consultancy, which offered training and advice for other retail businesses.
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By continuing you agree to our Terms and Privacy Policy.AF-1 managed seven Nike shops on Pitt St in the CBD, Bondi, Neutral Bay, Burwood, Chatswood, Warringah and Castle Hill with 115 employees, according to its website.
The business gave notice on Friday to ASIC that it was being wound up, with BCR Advisory John Morgan being placed as liquidator.
The stores will also no longer be honouring customers’ gift certificates and store credits, Mr Morgan added, as they represented unsecured claims against the franchisee.
In a statement, BCR Advisory told Australian Business Network that the Nike stores ceased trading immediately, with all employees’ roles being terminated.
“Eligible employee entitlements, including unpaid annual leave, wages and redundancy payments will be paid under the Commonwealth government (Fair Entitlements Guarantee) scheme,” he said.
“The liquidator’s office has provided affected employees with information about this scheme and how to apply for compensation from this Commonwealth government funding.”
Originally published as Nike franchisee shuts down seven Sydney stores
