Sydney retailer Sambag to shutter stores after 22 years, reportedly because of “greedy” landlords

Another independent retailer will be shuttering stores, with Sydney apparel and accessories brand Sambag saying it will end operations after 22 years in the business.

Inside Retail reports founder and designer Sam Wagner said “retail is not like what it used to be”, explaining she had decided “it’s too hard to compete anymore”.

The founder also told the publication “greedy landlords” and exorbitant rents were putting intense pressure on businesses.

Sambag has three locations in New South Wales and Queensland, as well as an online store.

The company informed shoppers on Facebook yesterday that its first ever store in Woollahra will close on April 15.

Independent retailers across Sydney have also previously spoken out about the demands of landlords, telling SmartCompany it is impossible for smaller brands to make things work in areas like Mosman. 

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Derek
Derek
2 years ago

Emma
I noticed you use the words “shutter’ and “shuttering” in your article. Are they a new quasi term in retail?
Regards

ken bertram
ken bertram
2 years ago

I agree that landlords are greedy and as a business broker acknowledge that over the past several years increased rents have exceeded a fair percentage of turnover to majority of small retailers impacting on the bottom line profit.
The arrogance of property managers towards tenants amazes me as Landlords in effect are in business with the retailers and it is in their interest that the lessee makes a success of the residing business. General attitude with the property managers is if you don’t like the rent then we will replace your site with someone else.