Menswear retail chain collapses

Menswear retail chain collapses

A chain of six menswear stores in Queensland that has been trading for 43 years has collapsed.

David Clout of David Clout and Associates was appointed liquidator of Dackbrook Pty Ltd and West End Pty Ltd, both of which were trading as Tom Browns Menswear, on November 10.

According to a notice issued to the Australian Securities and Investments Commission, a decision was made on November 11 to wind up the companies voluntarily.

But David Clout and Associates has this week advertised the business for sale “as a going concern”.

In an advertisement in the Australian Financial Review this morning, the liquidators said they are seeking expressions of interest for the entire business, “including current leases, fixtures and fittings, systems and web site”. They will also consider interest in parts of the business.

Tom Browns Menswear specialises in casual and business clothing for men, stocking brands such as Thirty-Six Degrees, duMaurier and Van Huesen.

The liquidators said the chain’s annual turnover “may exceed $4 million” and its stores are located in “major shopping centres” across Brisbane.

Clout declined to comment when contacted by SmartCompany this morning but confirmed all six stores are still trading.

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