Australian fashion retailer Colette by Colette Hayman has confirmed it is shutting down. Stores across the country began flash clearance sales this week. Discounts have reached up to 80 per cent. Signs outside stores declared: “Final day of trade. 60–80% off. Everything must go!”
Staff told the retailer is closing after years of financial pressure. Employees were informed on Thursday. Some stores will remain open until remaining stock is sold.
A Long Road to Collapse
Colette by Colette Hayman first entered administration in 2020. The business operated more than 100 stores in Australia and New Zealand at its peak. Following administration, former Myer and Edcon chief executive Bernie Brookes acquired the brand. Brookes established Marquee Retail Group as the parent company.
Figure 1: Colette by Colette Hayman first entered administration in 2020
The group also owns leather accessories label The Daily Edited, or tde. The Daily Edited is currently advertising a 70 per cent “site wide” flash sale. Its future remains unclear.
Temporary Rescue in 2023
In May 2023, Colette re-entered administration. Insolvency firm Mackay Goodwin appointed Domenic Calabretta, Mitchell Ball, and Richard Lawrence as administrators. They secured a deed of company arrangement (DOCA) in June. Marquee Retail Group funded the rescue deal.
The agreement included monthly repayments of $35,000 over four years. Priority creditors received 100 cents on the dollar. Important suppliers received 20 cents. Landlords were paid 10 cents, while other unsecured creditors got 5 cents.
The restructure saved 40 stores and around 400 jobs. Fewer than 10 employees lost jobs at the time. The business, however, continued to struggle. Sales declined significantly from October 2023 to March 2024.
Final Shutdown Announced
On Thursday, staff received confirmation of the closure. Colette stores began clearance sales nationally. In Westfield Tea Tree Plaza, South Australia, a sign read: “Final day of trade. 60–80% off. Everything must go!”
Figure 2: The Colette store at Westfield Tea Tree Plaza displays signs announcing its final clearance.
Employees confirmed the brand has gone into voluntary administration again. Marquee Retail Group failed to secure a long-term recovery plan. The administration announcement came in April 2024. The process lasted two months.
This marked the second administration process for Colette. The brand first registered as CBCH Australia Pty Ltd in 2012. It specialised in accessories including handbags, jewellery, and wallets.
At its peak, Colette operated in New South Wales, Victoria, Queensland, the ACT, South Australia, and Western Australia. The group had initially operated over 60 stores. That number reduced to 40 following the June 2023 restructure.
Flash Sales Signal End
As of this week, all stores are participating in clearance events. Staff confirmed the business will cease trading once stock is sold. Customers across Australia reported signs showing up in shopping centres.
Marquee Retail Group has not released further comments.No official response has been issued yet.
Figure 3: Sitewide flash sale on Colette’s online store
Broader Industry Impact
The Australian fashion retail industry is facing ongoing turmoil. Several major brands have entered administration or liquidation in recent months. Ally Fashion was wound up by the Federal Court in February. The chain operated 158 stores and employed 1669 staff. Liquidators closed 51 stores immediately. The company owed up to $58 million.
In April, iconic label Jeanswest called in administrators. The company prepared to shut down 90 stores. The move placed 600 jobs at risk.
Mosaic Brands, which owned labels like Noni B, Katies, Rivers, Millers, and Autograph, also collapsed. The business could not secure a buyer. Hundreds of stores closed following liquidation.
Retail Sector Under Pressure
Australian retailers continue to struggle with decreased consumer spending. Colette’s decline reflects wider economic pressures across the sector. The latest figures show that fashion chains are experiencing unexpected sales downturns.
Marquee Retail Group’s decision to end operations signals the end of the Colette brand. Staff in remaining stores will continue to trade until all stock is cleared. Customers continue to take advantage of final sales nationwide.
End of a Brand
Colette by Colette Hayman’s story ends after years of instability. Despite two rescues from administration, it could not recover sustainably. The business will exit the market following the latest administration process. The closure will result in more retail job losses and reduced store presence across shopping centres nationwide.
Colette by Colette Hayman’s closure joins a growing list of national retailers shutting down in 2024.
