Fashion retailer Bardot has announced it’s gone into voluntary administration.
The brand, which employs 800 people at its stores across the country, made the announcement on Thursday evening, with KPMG administrators brought in.
Restructuring Services Partner Brendan Richards said stores will continue trading on a business-as-usual basis, while an assessment of the business is undertaken.
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“We are at the very start of the process, so many questions are yet to be answered,” Richards said in a press release.
“Bardot is an iconic Australian womenswear brand with a rich history of over 20 years of growth.
“In the last five years, the business has grown significantly offshore and capitalised on its Australian heritage by distributing through high profile international department stores.”
Richards added the retailer has experienced a growth in overseas markets, but a downturn in the domestic environment.
“We expect strong interest in the sale/recapitalisation process,” Richards added.
Bardot’s CEO Basil Artemides put it down to Australia’s retail market.
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