Company behind 20 Jeep clothing and footwear stores collapses into voluntary administration
Monday, February 8, 2016/
The company with the licence to sell Jeep clothing and footwear in Australia has collapsed into voluntary administration.
The collapse comes around 10 years after Jeep opened its first concept store in Melbourne through local licensee Revolution Brands.
Revolution Brands appointed voluntary administrators last week, with Barry Wight from Cor Cordis Chartered Accountants acting as the company’s external manager.
A creditors’ meeting is due to be held in Melbourne on 15 February, with proofs and proxies to be submitted two days prior.
The first Jeep clothing store in Australia opened in Melbourne’s Highpoint Shopping Centre about 10 years ago.
Since then, the Jeep brand has expanded nationwide and has stores in Canberra, Perth, Adelaide, Newcastle and the Gold Coast.
The 20 retail outlets under administration sell a range of Jeep-branded apparel, including caps, underwear and shorts.
Speaking to SmartCompany this morning, Wight says the Jeep stores will remain open while Revolution Brands’ future is finalised.
“Our current intention is to trade Revolution Brands whilst we pursue a sale of the business and assets as a going concern,” Wight says.
A deed of company arrangement is also on the table.
A number of high-profile retail brands have collapsed into administration in the past few months, including homewares business Laura Ashley and electronics chain Dick Smith.