Menswear retailer ‘Ed Harry’ to shut operations - KPMG Australia
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Menswear retailer ‘Ed Harry’ to shut operations

Menswear retailer ‘Ed Harry’ to shut operations

On 15 January 2019, KPMG’s Brendan Richards and Gayle Dickerson were appointed Voluntary Administrators of national specialty menswear retailer Specialty Mens Apparel Pty Ltd, trading as “Ed Harry”.

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“Unfortunately, and despite having run a comprehensive sale of business campaign, there have been no viable offers received for the ongoing operations of the Company,” said Mr Richards. “As such, the Administrators have no alternative other than to progress to an orderly wind down of the Company’s operations.”

Mr Richards said he expected this would occur over a period of the next 6-8 weeks while all stock is realised and the Company’s operations fully wound down.

“Despite a thorough sale campaign being undertaken, there has been limited interest from the market in the business as a going concern,” he said.

“We would like to take this opportunity to thank Ed Harry’s loyal staff, customers, and landlords for their continued support over the administration – and we look forward to the ongoing support from stakeholders over the remainder of the administration period in order to maximise the return to creditors.”

Ed Harry Managing Director David Clark also thanked the Ed Harry team around the country for their support and efforts throughout this difficult period.

“Our team members and our customers have been incredibly supportive and on behalf of the directors I just want to say thank you, this is a sad time for all those who have put so much into our business,” said Mr Clark.

About Ed Harry
Ed Harry is a national, specialty menswear retailer offering a range of casual and formal apparel. Ed Harry ranges four proprietary brands: Insitu DNM, Jonathan Adams, and Villains of Virtue. Ed Harry operates 87 stores and employs 498 staff. The head office is based in Hindmarsh, Adelaide South Australia.

www.edharry.com.au

State Number of stores Number of staff (a)
ACT 2 8
QLD 22 124
NSW 11 55
NT 4 26
SA 14 108
VIC 15 84
WA 19 93
Total 87 498

Note: (a) Includes full time, part time and casual staff

 

Category Estimated number Estimated value
Employees* 498 $1.25m
Secured creditors 20 $4.0m
Trade creditors 100 $5.3m
Landlords 33 $2.4m

* Excludes potential redundancy claims

Futher information

Marjorie Johnston
KPMG Communications
+ 614 07 329 430
mjohnston4@kpmg.com.au

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