Business
G-Star Raw permanently closes 57 stores after failing to find a buyer – Inside Retail
Uncertainty about the future of retail after JobKeeper ends was a major factor in the end result, administrators say.
Administrators failed to find a buyer for the internationally recognised denim brand.
It’s the end of the line for Dutch denim brand G-Star Raw in Australia.
The local arm of the Dutch company has permanently closed all 57 of its bricks-and-mortar stores after voluntary administrators Justin Walsh, Sam Freeman and Stewart McCallum from EY failed to find a buyer after its collapse in May.
A half dozen potential buyers reportedly had a “genuine look” at the business over the past three months…
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