“Retail on its knees” as iconic 70-year-old department store collapses

Administrators BRI Ferrier have been appointed to iconic Adelaide department store Trims.

The store was established in 1937 by brothers Alf and John Trim and originally sold reconditioned clothing and hired out clothing, including formal wear.

These areas still remained a part of the Trims business but the retailer moved to stocking brands, which had a “strong Australian flavour”.

But the historic store was closed this week for administrators to undertake a stocktake to calculate the value of the assets.

The family-owned clothing store has 25 staff and was forced into administration after a downturn in retail left it unable to pay its suppliers, according to reports in Adelaide Now.

Managing director Russell Trim told the paper it was “a tough day in business”.

“You don’t have to be a brain surgeon to know that retail in this country is on its knees,” he said.

An initial meeting of Trims’ creditors will be held on May 24.

SmartCompany contacted administrator Andre Strazdins of BRI Ferrier, but he was unavailable to comment prior to publication.

 

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